UPDATE 1-Cathay Pacific sees seasonal rise in premium travel

* Structural recovery reliant on firmer world economy

* Losses for airlines in Asia Pacific continue in 2009 (Adds background, industry comments on profits)

SINGAPORE Nov 20 (Reuters) - Hong Kong's leading air carrier Cathay Pacific Airways (0293.HK) is seeing some recovery in its business and first-class travel, CEO Tony Tyler said on Friday, while cautioning a sustained revival had not yet taken hold. "At the moment we are seeing some recovery in premium travel, that is largely seasonal. The structural recovery will probably come when the world economy is on a firmer basis," Tyler told reporters on the sidelines of a business conference in Singapore.

Tyler's remarks came two weeks after Singapore Airlines (SIAL.SI), the world's largest airline by market value, said it had seen some recovery in its premium-class bookings, partly because some banks had relaxed business travel restrictions. [ID:nSIN491005]

Airlines around the world are facing one of the toughest times in history as the recession hits travel demand and cargo volumes.

Andrew Herdman, director-general of Association of Asia Pacific Airlines, told the conference he expects its 17 member airlines would post a net loss of $4.8 billion in 2009, similar to the loss recorded in 2008. (Reporting by Harry Suhartono; Writing by Nopporn Wong-Anan; Editing by Lincoln Feast)