Cathay CEO ?cautious? about rebound

Cathay CEO ôcautiousö about rebound    Cathay Pacific Chief Executive Tony Tyler said this week that the moderate rebound in air freight in the last few weeks is more a sign of the seasonal rise in demand than any sustained recovery.
   'This is traditionally a good time for us on both the premium passenger and freight fronts,' Tyler said in a speech at the Aviation Club in London. 'And we are seeing that this year. But whether it heralds a return to greener pastures remains to be seen. We'll have a better idea by the end of the year. I remain cautious. What I think is happening is a slow recovery effect exaggerated and amplified by seasonal factors. The longer the seasonal effect lasts, the easier it is to kid ourselves that we are seeing a sharp rebound. I'm not so sure.'
   He also said he's never seen the airline industry in such a precarious position as it currently finds itself.
   'For myself, I cannot remember the industry being in such bad shape in the 30 years I have been involved in it,' he said. 'And the worst of it is that I cannot at this stage honestly say that I see the end of it. Not immediately in front of us, at any rate.'