After storing it in the Californian desert for a year, Cathay Pacific Airways is returning one of its five parked 747-400 freighters to service as it banks on growth in world cargo demand.
A Cathay official said the freighter was undergoing maintenance and could be ready for operation later this month, a sign that airlines are looking at a pick-up in freight activity, the South China Morning Post reported.
The freighter was flown from the United States to Xiamen last month for an overhaul before entering service. The aircraft will not add to Cathay's existing cargo capacity, but be kept for special charters.
The effective capacity of Cathay's freight fleet will therefore remain unchanged but the flexibility of the airline to cater for increased freight carriage demand has increased. It will also be able to avoid overcapacity if demand does not rebound as much as expected.
Freight rates from Hong Kong to the United States and Europe surged beyond US$5.16 per kilogram in November and last month, from as low as $1.29 in the first quarter of last year.
Cargonews Asia
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