05 Aug 2024
Cathay Pacific Reports June Passenger Milestone
Cathay Pacific Reports June Passenger Milestone
Cathay Pacific announced released its traffic figures for June 2023, which saw the airline reach a new milestone for the number of passengers carried in a single day since the pandemic as it continues to make good progress in rebuilding connectivity at the Hong Kong international aviation hub. Cathay Pacific carried a total of 1,548,571 passengers last month, an increase of 931.9% compared with June 2022. Cathay Pacific Chief Customer and Commercial Officer Lavinia Lau said: “We are pleased to see that our travel business continued to perform well in June. We reached a new milestone on 25 June when we surpassed the 60,000 mark for passengers carried in a single day for the first time since the pandemic. We continued to increase our capacity and frequencies to cater for the strong demand for travel.”
China Eastern Airlines to launch Xi'an to Milan Malpensa route
China Eastern Airlines announced a new route between Xi'an to Milan Malpensa operating three times weekly commencing 26th September, using Airbus A330-200 aircraft. The year of 2024 marks the 20th anniversary of China and Italy establishing comprehensive strategic partnership. China announced to waive visa requirements for Italian visitors, and the visa-free policy to Italy will be effective until December 31, 2025.
Turkish Airlines Secures Chinese Yuan Denominated Aircraft Financing
Turkish Airlines announced a new currency to its financing portfolio in line with its natural currency hedging policy, thanks to its diversified revenue structure. Three Airbus A350-900 aircraft that joined the flag carrier’s fleet between May and July 2024 are financed in Chinese Yuan by AVIC International Leasing and CCB Financial Leasing.
Turkish Airlines Chairman of the Board and Executive Committee, Prof. Ahmet Bolat stated “As Turkish Airlines, we have added another achievement to our successes in aircraft financing by becoming the first airline to secure aircraft financing in Chinese Yuan outside of China. By adding the fifth currency to the variety of currencies used in aircraft financing, we do not only support our currency hedging strategies but also focus on keeping our financing cost at the minimum levels. Our Chinese business partners’ interest and support to this transaction, which was never used outside China before, is an indicator of the mutual trust between the parties as well as the collaboration between our countries. We aim to continue being a pioneer in the market by adding new structures to these successful and innovative financings in the future.”
Image Credit: N509FZ via Creative Commons
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