Cathay Pacific Airways announced that it reached an agreement with Airport Authority Hong Kong to delay the completion of its new cargo terminal by up to two years to mid-2013 (ATWOnline, Dec. 2, 2008). CX said the decision "was taken in response to market conditions brought about by the global economic downturn" and that it is aimed at "better matching supply and demand in the airfreight business given the current market outlook." It has suffered from a steep decline in freight traffic ...

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