Cathay Pacific opens new cargo terminal
January 30, 2014 Category Airlines and airports, Logistics
Cathay Pacific Airways has officially launched a new cargo terminal at Hong Kong airport which will help the city, facing fierce rivalry from Shanghai’s Pudong International Airport, enhance its position as the leading airfreight hub. Cathay Pacific Services, a wholly-owned cargo subsidiary of Hong Kong’s flag carrier, opened the HKD5.9 billion terminal that can handle 2.6 million tons of cargo annually, Algernon Yau, CEO of the unit, told Shanghai Daily. The Cathy Pacific Cargo Terminal will increase Hong Kong International Airport’s overall annual cargo capacity by 50% to 7.4 million tons, Yau said. He added that Hong Kong faced intense competition from airports on the Chinese mainland. Shanghai, which has established a pilot free trade zone, intends to elevate Pudong Airport into the world’s busiest cargo hub in five years. Guangzhou is building an Airport Economic Zone, while Shenzhen airport will complete its third runway soon.
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