2. Cathay Pacific Cargo The Italian Air Cargo Market Conference 5-6 Luglio Pisa

3. Politiche di Presenza in Europa e in Italia di un Vettore Dell’Eastremo Oriente

4. World Wide Strategy Freighter Network European Focus Italy and Cathay Pacific The Future

5. All “Roads” lead to Hong Kong, and through Hong Kong

6. System Split

7. All “Roads” lead to Hong Kong, and through Hong Kong Heavy Focus on N. Asia / Europe SEA Demand Mainly Satisfied with High Wide Body Passenger Aircraft Frequency.

8. CX Cargo Capacity by Region CX Cargo Capacity by Region

9. All “Roads” lead to Hong Kong, and through Hong Kong Heavy Focus on N. Asia / Europe SEA Demand Mainly Satisfied with High Wide Body Passenger Aircraft Frequency. N. America and Europe Growing Fast

10. Asian Markets Lead Growth % Growth Source: Boeing

11. Change in World Air Cargo Market Share Source: Boeing 1999

12. World Wide Strategy Freighter Network

13. Eur X 31 Departures Weekly N.A. X 26 Aust X 4 JPN/Twn X 17 KOR X 5 PEN X 2

14. World Wide Strategy Freighter Network European Focus

15. Due to trade volumes and trade growth with Hong Kong, Europe has been major focus since 1981 Historical connection to Europe due originally European company Major European industries set-up “off- shore” production in Hong Kong and Southern China

16. 18 B747-Freighter flights Europe-HKG per week. 11 x FRA 4 x LHR 3 x CDG Up to 31 June 2002

17. 29 B747-Freighter flights Europe-HKG per week. 11 x FRA 4 x LHR 3 x CDG After 01 Jul 2002 5 x BRU 6 X MAN

18. 31 B747-Freighter flights Europe-HKG per week. 11 x FRA 4 x LHR 3 x CDG After 05 Aug 2002 5 x BRU 6 X MAN 2 x MXP

19. 32 times Europe HKG per week. 7 x FRA 11 x LHR 7 x CDG 4x ROM 5 x AMS Passenger Services

20. World Wide Strategy Freighter Network European Focus Italy and Cathay Pacific

21. Italy is an important market for Cathay Pacific Hong Kong SAR is Italy’s third largest Asian Air Freight partner

22. Italy - Asia Air Cargo Tonnage Split (two-way) Source Boeing 1999

23. Germany - Asia Air Cargo Distribution (two-way) Source: Boeing 1999

24. Italy and Cathay Pacific Italy is an important market for Cathay Pacific Hong Kong SAR is Italy’s third largest Asian Air Freight partner No Directional Imbalance between Italy and Hong Kong

25. Westbound Directionality Europe Westbound % of total tonnage Source Boeing 1999

26. Italy and Cathay Pacific Italy is an important market for Cathay Pacific Hong Kong SAR is Italy’s third largest Asian Air Freight partner Directional Imbalance between Italy and Hong Kong is minimal Market is growing faster than MD capacity

27. MD Capacity Growth vs Tonnage Growth (Asia/Europe) Source Boeing 1999

28. Italy and Cathay Pacific Italy is an important market for Cathay Pacific Hong Kong SAR is Italy’s third largest Asian Air Freight partner Directional Imbalance between Italy and Hong Kong is minimal Market is growing faster than MD capacity Customers are asking for more capacity into and out of Italy

29. World Wide Network Freighter Network European Focus Italy and Cathay Pacific The Future