Cargo shines in Cathay’s dark first half

The Cathay Pacific Group reported a net loss of US$262 million in the first half of 2017, down from a profit of $45 million in 1H16, as the carrier’s passenger business struggled in the face of increasing competition from airlines based in mainland China. On the cargo side, however, there was nothing but good news. Cargo traffic in the half was up 9%, and revenue grew even more strongly, up by almost 12%.

In addition to the numbers (which are in the chart above), Cathay provided considerable detail on its cargo business. Below, we quote extensively from the company’s comments, because, in addition to what they show about Cathay, we feel they provide considerable insight into the overall state of the air cargo business in what is clearly the best year for the industry in a long time:

Join us at the Cargo Facts Symposium in Miami, 2 – 4 October, to hear thoughts about the future from senior air freight executives from all regions, and all types of carriers. To register, or for more information, go to CargoFactsSymposium.com. As a reminder, the “early bird” registration rate ends today, 18 August.

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