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Cathay Pacific reviews JV with Air China Cargo
Cathay Pacific Airways has suggested that it will review the fleet allocated to the joint venture with Air China Cargo after posted losses of HK$300 million on a fall in volume of 10%. The joint venture operates four 747-400 converted freighters, which has pushed up costs: “Old, fuel-inefficient airplanes is a tough business model,” says John Slosar, chief executive of Cathay Pacific. “We’ll have to look at that to see what is the right way forward in terms of the fleet.”
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