Wed, Dec 19, 2012 at 19:05
All airlines, domestic and global, are hurting from the high fees at Indian airports. Tom Wright, GM - S Asia, Middle East & Africa, Cathay Pacific says that while his company took a nearly 14% knock this year on operating margins from airport fees alone, Cathay is increasing its India footprint and hopes to tap the booming India story.
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Won't pick stake in any Indian airline: Cathay Pacific
All airlines, domestic and global, are hurting from the high fees at Indian airports. Tom Wright, GM - S Asia, Middle East & Africa, Cathay Pacific says that while his company took a nearly 14% knock this year on operating margins from airport fees alone, Cathay is increasing its India footprint and hopes to tap the booming India story.
Like this story, share it with millions of investors on M3
Won't pick stake in any Indian airline: Cathay Pacific
All airlines, domestic and global, are hurting from the high fees at Indian airports. Tom Wright, GM - S Asia, Middle East & Africa, Cathay Pacific says that while his company took a nearly 14% knock this year on operating margins from airport fees alone, Cathay is increasing its India footprint and hopes to tap the booming India story.
"This is very tough time for the world aviation industry, its a tough time for Cathay, it's a tough time for everybody and so when increases like that happen it does have a major impact on the airline. Fuel is currently the highest cost item that we face; 40% of our costs is fuel," he added.
The airline right now reportedly has about an 80% load factor and Tom says while Cathay is not interested in picking up stake in an Indian airline, it is fully committed to the India growth story.
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