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            january 24, 2020

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Cathay Pacific suffers 9pc drop in cargo in June to 163,977 tonnes


Cathay Pacific together with sister airline Cathay Dragon combined carried 163,977 tonnes of cargo and mail in June, representing a year-on-year decline of 9.1 per cent.
The cargo and mail load factor decreased by 7.8 percentage points to 62.8 per cent. Capacity, measured in available freight tonne kilometres (AFTKs), rose by 1.5 per cent, while cargo and mail revenue freight tonne kilometres (RFTKs) dived by 9.7 per cent to 928.056 million.
In the first half of the year, the tonnage contracted by 5.7 per cent to 979,152 tonnes against a 1.1 per cent rise in capacity and a 6.1 per cent decrease in RFTKs to stand at 5,477,669,000.
Cathay Pacific's cargo director Ronald Lam said: "Weakening market sentiment has been impacting our tonnage uplift and yield. With the exception of the Americas, northeast Asia and mainland China, which had a marginal increase in uplift compared to May, overall volume has seen decline against the previous month and year, with only a short-lived recovery from Asia towards the latter half of June.
"The outlook for the coming months has not seen signs of volume rebound. We shall further our efforts to maintain a healthy market share by working closely with our forwarders and shippers, and further rationalise our freighter capacity to better match demand."

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