Cathay Pacific Airways Ltd., the Hong Kong carrier expecting a record annual profit, will increase passenger capacity 11 percent next year as the economic pickup stokes demand for premium-class travel.
Goh Choon Phong , the incoming chief executive officer of Singapore Airlines Ltd. , will face growing competition for both premium and economy-class passengers in Asia as he tries to revive profits from a two-decade low.
Qantas Airways Ltd., Australia’s largest carrier, plunged to a record low in Sydney trading after saying annual profit may fall as much as 91 percent because of losses on overseas routes and higher fuel costs.
Cathay Pacific Airways Ltd., the largest carrier of international air cargo, said it has seen only a small increase in freight ahead of the Christmas shopping season, prolonging an 18-month downturn in industry volumes.
China’s death toll from a new strain of bird flu rose to six people as Shanghai began slaughtering birds at a local market and concerns of an outbreak sparked the biggest drop in Hong Kong stocks in more than eight months.