Cathay Pacific Group’s two airlines Cathay Pacific and Cathay Dragon carried 161,394 tonnes of cargo and mail in August, a drop of 14 per cent compared to the same month last year, as various headwinds affected performance.
The cargo and mail load factor fell by 7.5 percentage points to 60.9 per cent. Capacity, measured in available freight tonne kilometres (AFTKs), was down by 0.6 per cent while cargo and mail revenue freight tonne kilometres (RFTKs) dropped by 11.6 per cent.
In the first eight months of 2019, the tonnage fell by 7.1 per cent against a 0.8 per cent increase in capacity and a 7.2 per cent decrease in RFTKs, as compared to the same period for 2018.
Cathay Pacific Group chief customer and commercial officer, Ronald Lam said: “On the cargo side, our business continued to face headwinds. Tonnage further deteriorated month-on-month across all regions, driven in particular by slow demand over the holiday season in different parts of the world, the effects of tropical storms and disruptions at Hong Kong International Airport.
“Ongoing geopolitical tensions continued to affect overall market sentiment. Nevertheless, our outlook for September is slightly more positive and we expect to see demand progressively improve, driven by project shipments and the restocking of inventory as we enter the traditionally high-demand season.”