Cathay Pacific August results mirror industry-wide strength in cargo demand

Cathay Pacific and its subsidiary carrier Cathay Dragon reported an uptick in cargo volumes of 12 percent year-over-year in August, in line with large y-o-y increases reported so far for August by other carriers in Asia and in the Americas, as airfreight demand growth remains strong.

Cathay airlines reported total cargo volumes of 172,253 tonnes for August, while its load factor edged up by 2.2 points to 65.5 percent, and capacity in available tonne kilometers rose by 7.5 pecent. Year-to-date, cargo volumes are up 11.9 percent to more than 1.3 million tonnes. Cathay Pacific director of commercial and cargo Ronald Lam attributed August cargo results to strong demand from the airlines’ key markets, with cargo tonnage significantly outpacing growth in capacity for imports and exports.

Looking forward, Cathay said cargo trends are improving, with Lam adding that Cathay will “plan to operate our maximum freighter schedule in order to match the forecast surge in demand from various new product launches.”

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