Cathay Cargo grows July volumes 11% as Asia demand surges

Cathay Cargo recorded a solid performance in July 2025, with cargo volumes climbing 11% compared with the same month last year. The airline carried 140,156 tonnes of freight, supported by double-digit growth in Available Freight Tonne Kilometres (AFTKs), which rose 11.2% year-on-year to reach 1.29 billion. Revenue Freight Tonne Kilometres (RFTKs) also mirrored this increase, advancing 11.1% year-on-year to 753 million.

For the first seven months of 2025, total cargo tonnage stood at 940,909 tonnes, up 11.2% from the same period in 2024, underlining the airline’s continued momentum in airfreight despite global market headwinds.

Cathay Chief Customer and Commercial Officer Lavinia Lau attributed the July gains partly to pre-tariff cargo movement, noting that businesses were advancing shipments ahead of upcoming trade timelines. “In July, we saw increased cargo tonnage compared with the same month last year, reflecting the movement of air cargo ahead of the tariff timelines,” she said.

Capacity also grew 6% compared with June 2025, with particularly strong flows from Southeast Asia into Hong Kong. Demand was driven largely by machinery and perishables, while Cathay’s dedicated perishable solution, Cathay Fresh, saw a seasonal boost from cherry exports out of the United States.

Operationally, the number of freighter flight sectors dipped slightly, down 1.3% year-on-year to 1,286 in July, while the cargo load factor eased marginally by 0.1 percentage point to 58.2%.

Looking ahead, Lau cautioned that the external environment remains uncertain. She stressed that Cathay will continue to maintain flexibility in its network and operations, ensuring it can respond swiftly to evolving demand conditions.

The results highlight Cathay Cargo’s ability to balance capacity with shifting trade flows, reinforcing Hong Kong’s role as a key hub in the Asia-Pacific air cargo market.