Cathay January cargo slips 3.4pc, but passengers up 7.4pc
HONG KONG's Cathay Pacific and Cathay Dragon carried 166,735 tonnes of cargo and mail in January, a decrease of 3
HONG KONG's Cathay Pacific and Cathay Dragon carried 166,735 tonnes of cargo and mail in January, a decrease of 3.4 per cent year on year.
The cargo and mail load factor fell by 3.8 percentage points to 61.6 per cent. Capacity, measured in available freight tonne kilometres (AFTKs), was increased by 0.8 per cent while cargo and mail revenue freight tonne kilometres (RFTKs) decreased by 5.2 per cent.
'Chinese New Year this year was earlier than last, leading to a slight distortion in both passenger and cargo revenue for January and February,' said Cathay cargo chief Ronald Lam.
'Cargo uplift gradually picked up before Chinese New Year but the pre-holiday rush was not as strong as last year,' he said.
'As a result, our cargo revenue recorded small negative year-on-year growth in January. Some short-term capacity rationalisation was made to better match demand,' Mr Lam said.
Cathay group carried a total of 3,127,437 passengers in January, an increase of 7.4 per cent year on year. The passenger load factor increased 1.9 percentage points to 86.1 per cent, while capacity, measured in available seat kilometres (ASKs), increased 7.1 per cent.
'Passenger revenue performed well with positive year-on-year growth in terms of load factor and yield,' said Mr Lam.
'The robust business class demand of late 2018 continued into January, while we also saw improved volumes in economy class, driven by pre-Chinese New Year traffic from Hong Kong and mainland China,' he said.