Cathay cargo crumbles

THE world’s biggest cargo carrier – Cathay Pacific – has reported a 17.5 per cent fall in October volumes against the same month last year.

The airline, along with its subsidiary Dragonair, carried 135,998 metric tonnes of cargo and mail in October.

“The airfreight industry remained weak overall in October, with our key Hong Kong and China markets continuing to be soft,” Cathay’s general manager cargo sales and marketing James Woodrow said. “It looks unlikely that we will see the usual year-end peak.”

The cargo and mail load factor slid by 8.9 per cent points to 66.2 per cent. For the year to end-October, tonnage dropped by 7.7 per cent while capacity was up by 8.1 per cent.

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