Cargo decline continues for Cathay, intra-Asia steady

Cathay Pacific Airways, the world's largest air cargo carrier, has said its cargo throughput fell in September, the sixth consecutive drop, with passenger volumes also beginning to look more uncertain.


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Cathay Pacific Airways, the world’s largest air cargo carrier, has said its cargo throughput fell in September, the sixth consecutive drop, with passenger volumes also beginning to look more uncertain.

 

Stagnating economies in Europe and the US are damping demand for high-value exports from manufacturers in Asia, especially China, pushing Cathay’s September cargo and mail volume down by 10.1 per cent from a year earlier.

 

Cathay and subsidiary Dragonair moved a total of 131,443 tonnes of cargo and mail in September with a load factor of 64.8 per cent, down 5 percentage points, Cathay said. In the first nine months from January to September, tonnage dropped by 6.4 per cent, compared with a capacity increase of 9.8 per cent.