A Cathay Pacific flight from New York City's John F. Kennedy International Airport to Hong Kong wound up being a 34-hour journey.» Read More
Boeing advised airlines about a risk of engine icing problems on its new 747-8 and 787 Dreamliner planes with engines made by General Electric.
All Nippon Airways, the biggest customer for Boeing's 787 Dreamliner, wants the planemaker to compensate it in cash, rather than discounts on future purchases, for losses racked up since the aircraft was grounded worldwide in mid-January.
John Slosar, CEO at Cathay Pacific, tells CNBC he expects a recovery in the air cargo market, even as weakness in the industry led to an 83 percent plunge in 2012 net profit for the airline.
Cathay Pacific Airways, the world's largest international air cargo carrier, returned to profit in the second half of 2012 but still underperformed ending the year with a huge drop in full year net profit.
Asian shares closed mostly higher on Thursday, even though Japan was unable to gain momentum from further stimulus and despite investor worries about the looming "fiscal cliff" deadline, which risks the health of the world's largest economy.
Timothy Ross, Head of Asia Pacific Transport Research, Credit Suisse says that soaring energy prices is a core issue and is the reason for his underweight call on the sector
Although Cathay Pacific issued a profit warning recently, its CEO John Slosar remains upbeat. He tells CNBC's Emily Chan that its business in Asia remains strong.
John Slosar, CEO, Cathay Pacific, says the airline will see an increase in its business within Asia as travel in the region grows. He adds that the airline is managing its fuel costs effectively.
John Slosar, CEO of Cathay Pacific tells CNBC he expects a weak start to 2012, and a pickup only later in the year.
Mark Webb, regional aviation analyst, HSBC, says now is the best time to pick up beaten down premium Asia airlines stocks, such as Cathay Pacific and Singapore Airlines due to long-term growth strength.