Cathay Pacific Group’s cargo and mail tonnage fell 8.2 per cent in July, as the airline continued to face headwinds and deal with softening demand across markets.
Cathay Pacific and Cathay Dragon combined, carried 169,720 tonnes of cargo and mail last month. The load factor fell by a significant 7.2 percentage points to 63.1 per cent.
Capacity, measured in available freight tonne kilometres (AFTKs), was up by 0.8 per cent while cargo and mail revenue freight tonne kilometres (RFTKs) dropped by 9.4 per cent.
In the first seven months of 2019, tonnage fell by 6.1 per cent to 1,148,872 tonnes, against a one per cent increase in capacity and a 6.6 per cent decrease in RFTKs, as compared to the same period for 2018.
Cathay Pacific chief customer and commercial officer, Ronald Lam said: “Our cargo business continued to face headwinds with market sentiment softening across the board. Indeed, South Asia was the only sales region where we still saw tonnage growth compared to the previous month and year.
“While the market outlook remains uncertain, we continue to be vigilant as we work to mitigate the impact on our business. We are diligently matching capacity with customer demand while also strengthening our capability to carry specialised shipments.”