The airline industry, especially in the Asia-Pacific region, is seeing significant growth. Cathay Pacific, based in Hong Kong, is seen as an indicator for the airline sector in Asia, and its revenues increased 34% in the past year as people traveled by air more and cargo volumes increased.
Cathay Pacific carried approximately 13 million passengers in the first six months of this year, which was nearly nine percent more than during the same period in 2009.
The latest figures by the International Air Transport Association (IATA) show growth of nearly 16 percent in the Asia-Pacific region overall, including all airlines.
As a result, Cathay Pacific announced yesterday that it plans to buy 30 Airbus aircraft and 6 Boeing aircraft. The value of these new aircraft is about 75 billion Hong Kong dollars.
These recent results mirror the strong performance of other airlines as the economic recovery continues throughout the world.
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