Hong Kong's Cathay Pacific Airways, and its unit, Dragonair, suffered a year-on-year 10 per cent decline in June air freight, but the month to month fall was the lowest of any month this year, the Shipping Gazette said.
"There are signs that the air freight market has bottomed out, though as yet we are not seeing any sustained upswing," said Cathy cargo chief Titus Diu.
"Competition in the various cargo markets we serve remains fierce and as such yield remains under considerable pressure," he said.
The two airlines moved 123,860 tons in June, while the cargo load factor rose by 3.8 percentage points to 71.3 per cent. Capacity for the month, measured in available ton kilometres fell 14.3 per cent year on year. Year to date, tonnage fell 15.4 per cent while capacity was cut 14.1 per cent.