HONG Kong's Cathay Pacific carried 109,834 tonnes of cargo in May, an 18.8 per cent increase compared to the same month last year, when the airline's cargo capacity was significantly reduced due to stricter aircrew quarantine measures.
The month's cargo revenue tonne kilometres (RFTKs) increased 73.4 per cent year on year. The cargo load factor decreased by 14.2 percentage points to 61.5 per cent, while capacity, measured in available cargo tonne kilometres (AFTKs) increased by 113.6 per cent year on year.
In the first five months of 2023, Cathay's tonnage increased by 28.2 per cent against a 154.6 per cent increase in capacity and a 107.2 per cent increase in RFTKs, as compared with the same period for 2022.
Commenting on the month's cargo business, Cathay Pacific's chief customer and commercial officer Ronald Lam said: 'Market volume remained largely flat in May. High-tech demand and new consumer product shipments continued to underperform due to elevated inventory levels. However, the e-commerce market remained relatively active and, in the special solution segment, aircraft engine volumes improved as passenger services resumed.'
Mr Lam explained that the summer months were traditionally slower and any significant pick-up in demand is not expected until the end of the third quarter.
'We also anticipate more intense competition as overall cargo demand lags behind supply. As we rebuild our capacity through the expansion of the widebody passenger network, we will continue to source new demand and optimize our freighter schedules accordingly. Toronto and Miami will receive additional freighter capacity as a result.'
Cathay Pacific carried a total of 1,417,906 passengers in May, soaring 2,345 per cent compared with May 2022. In the first five months of 2023, the number of passengers carried increased by 3,281 per cent against a 1,786 per cent increase in capacity as compared with the same period for 2022.
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The month's cargo revenue tonne kilometres (RFTKs) increased 73.4 per cent year on year. The cargo load factor decreased by 14.2 percentage points to 61.5 per cent, while capacity, measured in available cargo tonne kilometres (AFTKs) increased by 113.6 per cent year on year.
In the first five months of 2023, Cathay's tonnage increased by 28.2 per cent against a 154.6 per cent increase in capacity and a 107.2 per cent increase in RFTKs, as compared with the same period for 2022.
Commenting on the month's cargo business, Cathay Pacific's chief customer and commercial officer Ronald Lam said: 'Market volume remained largely flat in May. High-tech demand and new consumer product shipments continued to underperform due to elevated inventory levels. However, the e-commerce market remained relatively active and, in the special solution segment, aircraft engine volumes improved as passenger services resumed.'
Mr Lam explained that the summer months were traditionally slower and any significant pick-up in demand is not expected until the end of the third quarter.
'We also anticipate more intense competition as overall cargo demand lags behind supply. As we rebuild our capacity through the expansion of the widebody passenger network, we will continue to source new demand and optimize our freighter schedules accordingly. Toronto and Miami will receive additional freighter capacity as a result.'
Cathay Pacific carried a total of 1,417,906 passengers in May, soaring 2,345 per cent compared with May 2022. In the first five months of 2023, the number of passengers carried increased by 3,281 per cent against a 1,786 per cent increase in capacity as compared with the same period for 2022.
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