Cathay Cargo sees 9.3% freight growth
Strong cargo demand lifted Cathay Cargo's June volumes by 9.3%, as the airline also forecast healthy first-half earnings driven by cargo, passenger operations and associate contributions.
The Cathay Group published its June 2026 traffic statistics alongside its first-half 2026 financial performance update.
Cathay Cargo transported 9.3% more cargo in June 2026 compared with the same month last year, while Available Freight Tonne Kilometres (AFTKs) rose 1% year-on-year.
Cathay Chief Customer and Commercial Officer Lavinia Lau said, “Cargo tonnage recorded a solid year-on-year increase in June. During the month, we saw strong cargo flows from the Chinese Mainland into Southeast Asia alongside steady demand within Southeast Asia. Shipments into the Chinese Mainland and Hong Kong remained resilient, while our specialist solutions continued to perform well, with semiconductor and pharmaceutical shipments supporting growth in Cathay Expert and Cathay Pharma respectively. Cathay Priority also saw strong demand into Hong Kong, Southeast Asia and the Americas, reflecting shippers’ need for time-definite solutions to replenish inventory."
Looking ahead, the company expects healthy cargo flows to continue but is assessing the impact of Europe's new customs duties on low-value imports, which may alter e-commerce shipment volumes.
Cathay Cargo reported steady growth in its cargo business for June 2026, supported by higher demand and improved utilisation. Available freight tonne kilometres (AFTKs) increased 1.3% year-on-year to 1.24 billion, while revenue freight tonne kilometres (RFTKs) grew at a faster pace of 4.6% to 747.4 million, reflecting stronger traffic demand. Cargo carried during the month rose 9.3% year-on-year to 144,773 tonnes, despite the number of freighter flight sectors declining 2.0% to 1,209, indicating improved efficiency.
The cargo load factor improved by 1.9%pt to 60.4%, suggesting better aircraft utilisation. On a year-to-date basis, AFTKs increased 3.9% to 7.63 billion, RFTKs rose 4.9% to 4.51 billion, cargo volumes climbed 8.5% to 868,931 tonnes, while freighter flight sectors fell 2.3% to 7,274. The year-to-date cargo load factor also improved by 0.5%pt to 59.2%, reflecting sustained growth in cargo demand across Cathay Cargo's network.
The Cathay Group expects to report a consolidated profit attributable to shareholders of approximately HK$6.0 billion to HK$6.5 billion for the six months ended June 30, 2026. The result includes a one-time gain of about HK$1.4 billion from the deemed partial disposal of associates following the dilution of the Group's equity interest in Air China, as previously disclosed in its May 2026 traffic figures announcement.
Continued healthy demand for Cathay Pacific and Cathay Cargo, coupled with improved HK Express performance and stronger associate contributions, drove the Group's first-half 2026 results.