Cathay Pacific cuts cargo handling fees of its airlines from April next year by 18% to over 20%

Financial news

Written by: Xu Shihao

2019-12-11 16:05

The worsening global economic outlook, coupled with factors such as the Sino-US trade war, have weighed on the overall performance of exports and imports. Cathay Pacific (0293) announced that it will launch preferential cargo handling fee for air cargo terminals from April 1 next year to strengthen Hong Kong International Airport's competitiveness as a global air cargo hub.

The group states that four of its airlines, including Cathay Pacific, Cathay Dragon, Huamin Airlines and Hong Kong Express's freight customers, can export general cargo or special cargo from Hong Kong for export, which can save an export cargo handling fee of HK $ 0.3 per kilogram. Based on the current level of charges, the reduction has reached 18% to over 20%; the concessionary charges are partly borne by the Hong Kong Airport Authority.

Cathay Pacific customer and business president Lin Shaobo said that the introduction of cargo handling fee concessions aims to further consolidate the competitiveness of Hong Kong International Airport. As a Hong Kong-based airline, it will continue to ensure that the company's hub can continue to grow with the growth of cargo volume.

Cathay Pacific will issue a year-end ex-gratia ceiling of 30,000 yuan at its discretion. Employees who meet the standard will receive a 2% salary increase next year.

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Cathay Pacific