HONG Kong's Cathay Pacific carried 107,039 tonnes of cargo in February, an increase of 3 per cent compared with the same month last year.
The month's cargo revenue tonne kilometres (RFTKs) increased 3.8 per cent year on year. The cargo load factor decreased by 7.5 percentage points to 59.2 per cent, while available cargo tonne kilometres (AFTKs) increased by 16.9 per cent year on year.
In the first two months of 2024, the tonnage increased by 11.4 per cent against a 17.6 per cent increase in AFTKs and a 7.5 per cent increase in RFTKs, as compared with the same period for 2023.
Commenting on the month's cargo business, Cathay Pacific's chief customer and commercial officer Lavinia Lau said: 'Demand was weaker in February, which was expected given the timing of Chinese New Year, with tonnage down by 7 per cent compared with the previous month. However, when compared with February 2023, tonnage was up by 3 per cent.
'There was a healthy spike in demand before Chinese New Year, and although demand from Hong Kong and the Chinese Mainland declined during the holiday period, the impact was also less than in previous years.'
Ms Lau pointed out that in the two months there was good growth in tonnage on long-haul routes from other markets in Asia, as well as on routes from Hong Kong and the Chinese Mainland.
'We observed encouraging growth in special products such as pharmaceuticals, perishables and machinery parts. Overall for January and February combined, our cargo performance has met expectations, with increased tonnage carried compared with the same period last year,' she added.
Looking ahead, Ms Lau said: 'On the cargo side, we expect demand to pick up towards the second half of the month as we approach the end of the first quarter. E-commerce continues to drive demand out of Hong Kong, although we maintain a balance in our tonnage with the wide range of freight solutions we provide to customers to meet their cargo requirements.'
SeaNews Turkey
The month's cargo revenue tonne kilometres (RFTKs) increased 3.8 per cent year on year. The cargo load factor decreased by 7.5 percentage points to 59.2 per cent, while available cargo tonne kilometres (AFTKs) increased by 16.9 per cent year on year.
In the first two months of 2024, the tonnage increased by 11.4 per cent against a 17.6 per cent increase in AFTKs and a 7.5 per cent increase in RFTKs, as compared with the same period for 2023.
Commenting on the month's cargo business, Cathay Pacific's chief customer and commercial officer Lavinia Lau said: 'Demand was weaker in February, which was expected given the timing of Chinese New Year, with tonnage down by 7 per cent compared with the previous month. However, when compared with February 2023, tonnage was up by 3 per cent.
'There was a healthy spike in demand before Chinese New Year, and although demand from Hong Kong and the Chinese Mainland declined during the holiday period, the impact was also less than in previous years.'
Ms Lau pointed out that in the two months there was good growth in tonnage on long-haul routes from other markets in Asia, as well as on routes from Hong Kong and the Chinese Mainland.
'We observed encouraging growth in special products such as pharmaceuticals, perishables and machinery parts. Overall for January and February combined, our cargo performance has met expectations, with increased tonnage carried compared with the same period last year,' she added.
Looking ahead, Ms Lau said: 'On the cargo side, we expect demand to pick up towards the second half of the month as we approach the end of the first quarter. E-commerce continues to drive demand out of Hong Kong, although we maintain a balance in our tonnage with the wide range of freight solutions we provide to customers to meet their cargo requirements.'
SeaNews Turkey