Cathay, Dragonair air cargo records modest volume increase in July

Cathay Pacific Airways and Dragonair carried 147,545 tons of cargo and mail in July, a 0.5% increase year-on-year.

The cargo and mail load factor fell 2.9 percentage points to 61.8%. Capacity, measured in available cargo/ mail tonne km, rose 6.2% while cargo and mail revenue tonne km (RTKs) flown increased 1.4 per cent during the same period.

For the year to the end of July, tonnage rose 6.8% against a capacity increase of 8.5%and a 9% rise in RTKs.

Mark Sutch, Cathay Pacific’s Cargo Sales Chief said, “After a flat second quarter, demand for air freight shipments remained below expectations throughout July. The growth in tonnage lagged the growth in capacity by a sizeable margin, which dragged down the month’s load factor.”

Sutch stated that yield remained under pressure due to overcapacity in a number of markets.

“Among the positive stories of the month, demand into and out of India continued to be ahead of expectations and we also saw an upsurge in project shipments out of western China, and Chongqing in particular,” he said.