Cathay group cargo volume drops 14pc in August to 161,394 tonnes
HONG KONG's Cathay Pacific and Cathay Dragon declared that its August cargo volume declined 14 per cent year on year to 161,394 tonnes
HONG KONG's Cathay Pacific and Cathay Dragon declared that its August cargo volume declined 14 per cent year on year to 161,394 tonnes.
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.
'Tonnage further deteriorated month-to-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,' said chief commercial officer Ronald Lam.
'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,' he said.There was also and 11.3 per cent year-on-year drop in August passenger volume to 2,906,954. Passenger load factor decreased by 7.2 percentage points to 79.9 per cent, while capacity, measured in available seat kilometres (ASKs), rose by 5.1 per cent.
In the first eight months of 2019, the number of passengers carried grew by 2.2 per cent and capacity increased by 6.5 per cent, as compared to the same period for 2018.
Said Mr Lam: 'We remain optimistic in the medium term. The strong commitment to our brand and customer experience remains unchanged. Our investments in new aircraft and enhancing the customer experience will continue, giving travellers more reasons to fly with us.'