Tuesday, May 28, 2024
Cathay Pacific Cargo reports 20.3% increase in airfreight volumes

Cathay Pacific Cargo reports 20.3% increase in airfreight volumes

Cathay Pacific has released its traffic figures for November 2023, which saw a good growth in air cargo carried largely driven by seasonal sales events and year-end demand.

READ: Cathay Pacific temporarily suspends Tel Aviv services

The airline carried 123,970 tonnes of cargo in November 2023, an increase of 20.3% compared with November 2022. The month’s cargo revenue tonne kilometres (RFTKs) increased 14.2% year on year. The cargo load factor decreased by 5.8 percentage points to 61.1%, while available cargo tonne kilometres (AFTKs) increased by 25.1% year on year. In the first 11 months of 2023, the tonnage increased by 19.5% against a 64.2% increase in AFTKs and a 43.6% increase in RFTKs, as compared with the same period for 2022.

READ: Cathay welcomes initiatives to further strengthen Hong Kong’s aviation status

Chief Customer and Commercial Officer Lavinia Lau said: “Air cargo demand got stronger in November as we reached the middle of the peak season. Tonnage grew around 20% compared with the same month in 2022, largely driven by seasonal sales events such as ‘Singles’ Day’ and ‘Black Friday’, the Thanksgiving holidays, as well as year- end demand as we approach the Christmas holiday period. Aside from e-commerce, demand was also robust in traditional air cargo commodities such as high-end electronics, automotives and perishables.”

Picture of Edward Hardy

Edward Hardy

Having become a journalist after university, Edward Hardy has been a reporter and editor at some of the world's leading publications and news sites. In 2022, he became Air Cargo Week's Editor. Got news to share? Contact me on Edward.Hardy@AirCargoWeek.com

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