Cathay cargo drops 3.9pc in May while passengers increase 4.7pc
HONG KONG's Cathay Pacific Group carried 168,270 tonnes of cargo and mail in May, a drop of 3
HONG KONG's Cathay Pacific Group carried 168,270 tonnes of cargo and mail in May, a drop of 3.9 per cent compared to the same month last year, the company revealed.
The cargo and mail load factor fell by 4.7 percentage points to 63.9 per cent. Capacity, measured in available freight tonne kilometres (AFTKs), was up 4.6 per cent while cargo and mail revenue freight tonne kilometres (RFTKs) dropped 2.6 per cent.
In the first five months of 2019, the tonnage fell by five per cent against a one per cent increase in capacity and a 5.3 per cent decrease in RFTKs.
'Our cargo business continued to be adversely affected by geopolitical tensions and resulting dampened market sentiment,' said Cathay cargo chief Ronald Lam.
'Despite positive capacity growth in May, cargo revenue saw negative growth over last year. Both volume and yield incurred decline year on year.
'We shall remain vigilant in order to best match our capacities to changes in market demand and trade flow,' said Mr Lam.
Cathay Pacific and Cathay Dragon carried a total of 2,961,491 passengers last month - an increase of 4.7 per cent compared to May 2018.
The passenger load factor increased 0.9 percentage points to 82.9 per cent, while capacity, measured in available seat kilometres (ASKs), increased 6.6 per cent.
In the first five months of 2019, the number of passengers carried grew 4.1 per cent while capacity increased 6.5 per cent.