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            september 20, 2019

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Cathay June cargo rises 5.8pc to 180,354 tonnes


Hong Kong's Cathay Pacific Group announced that it carried 180,354 tonnes of cargo and mail in June, a year-on-year increase of 5.8 per cent.
Cargo and mail load factor rose 2.3 percentage points to 70.6 per cent. Capacity, measured in available freight tonne kilometres (AFTKs), was up two per cent while cargo and mail revenue freight tonne kilometres (RFTKs) increased by 5.5 per cent.
In the first six months of 2018, the tonnage rose 7.5 per cent against a 4.1 per cent increase in capacity and a 7.3 per cent increase in RFTKs.
Said Cathay cargo chief Ronald Lam: "Frontend demand across our network remained strong during the period, while backend demand also picked up moderately thanks in part to the Dragon Boat Festival and 1 July holidays.
"Our European and United Kingdom routes performed relatively well. A small yield growth came on the back of improved business travel and traffic mix over last year," he said.
"In terms of cargo, tonnage picked up towards end of the month. We observed a particular rise in demand on routes to Japan, owing to some capacity tightening in the market, while there was also increased uplift into the United States from Hong Kong and mainland China," Mr Lam said.
"Looking ahead, we are closely monitoring geopolitical developments and their effect on tariff and currency movements, which have the potential to significantly impact both our passenger and cargo businesses ."
Cathay Pacific and Cathay Dragon carried a total of 2,925,385 passengers last month ?an increase of 4.1 per cent compared to June 2017. The passenger load factor increased 0.2 percentage points to 85.3 per cent, while capacity, measured in available seat kilometres (ASKs), increased 3.8 per cent.
In the first six months of 2018, the number of passenger carried grew by 1.9 per cent while capacity increased 3.2 per cent, according to Shipping Gazette.

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