Cathay cargo carried up 15% in July
Cargo revenue tonne kilometres increased 25% YoY, capacity was up 48%
Cathay Pacific carried 115,729 tonnes of cargo in July, an increase of 15 percent compared with July 2022.
Cargo revenue tonne kilometres (RFTKs) increased 25 percent year on year, says an official release.
The cargo load factor declined 11.2 percentage points to 59.8 percent while capacity, measured in available cargo tonne kilometres (AFTKs), increased 48 percent year on year. "In the first seven months of 2023, tonnage increased 22 percent against a 102 percent increase in capacity and a 71 percent increase in RFTKs compared with the same period for 2022."
Lavinia Lau, Chief Customer and Commercial Officer, Cathay Pacific says: “While overall cargo demand in July remained at similar levels compared with June, e-commerce traffic continued to be a bright spot holding volumes up. Movement of seasonal fresh produce has also been active, contributing to good volume growth under our Cathay Fresh solution. All in all, cargo tonnage in July grew four percent month on month."
Outlook
"On the cargo side, while we expect volumes to remain flat for the rest of the summer period, we anticipate demand will pick up from the end of the third quarter as we enter the traditional peak period for air cargo. Overall, we anticipate our cargo business will continue to perform solidly throughout the second half of 2023," Lau added.
