Cathay Pacific today released its traffic figures for September 2022, which continued to reflect the impact of further adjustments to the Hong Kong Special Administrative Region Government’s travel restrictions and quarantine requirements.
The airline carried 104,055 tonnes of cargo last month, a decrease of 20.6% compared to September 2021, and a 39.7% decrease compared with the same period in 2019.
The month’s cargo revenue tonne kilometres (RFTKs) decreased 28.3% year-on-year, and were down 38.6% compared to September 2019.
The cargo load factor decreased by 13.3 percentage points to 66.4%, while capacity, measured in available cargo tonne kilometres (AFTKs), was down by 14% year-on-year, and was down by 39.4% versus September 2019.
In the first nine months of 2022, the tonnage decreased by 9.8% against a 23.7% decrease in capacity and a 31.8% decrease in RFTKs, as compared to the same period for 2021.
Chief Customer and Commercial Officer Ronald Lam said: “Tonnage in September decreased about 21% compared to last year’s exceptionally high level.
“We had reduced cargo flight capacity in expectation of this and operated fewer cargo-only passenger services on long-haul routes.
“However, the fall in demand compared with last year was greater than predicted, largely due to weaker consumer demand and reduced manufacturing activities in the Chinese Mainland.
“This prolonged the dip we typically see after the Mid-Autumn Festival and also meant the pre-National Day Holiday uptick was relatively mild.
“Overall last month, cargo flight capacity was approximately 61% of pre-pandemic levels.
“As we resume more passenger flights, the additional cargo capacity provided by the bellies of our passenger aircraft will complement our full freighter schedule, enabling us to offer extended routings and more consistent services to our cargo customers.
“Demand from the Chinese Mainland softened over the National Day holidays, but is expected to firm up again in the latter part of the month.
“We remain positive that there will be solid demand over the traditional cargo peak period, and while it will not reach the levels achieved last year, we expect it to still be above historical averages.”