Cathay Pacific volumes plummet
14 / 12 / 2011
THE world’s largest air cargo carrier Cathay Pacific has recorded a 13.8 per cent freight volume plunge in November.
The amount of cargo and mail sank for an eighth consecutive month in November to 132,430 metric tonnes.
“November is traditionally the busiest time for our cargo business in the build-up to the Christmas season in the US and Europe, but the peak simply didn’t arrive this year,” cargo general manager James Woodrow stated.
Cargo load factor fell 6.3 per cent to 65.3 per cent as the carrier reduced capacity as weak demand from its key Hong Kong and China markets persists.
New orders have fallen in December, slimming factory output in China, Cathay’s major cargo market.
The airline is hoping for some compensation from the new service to Zaragoza (Spain), which has gotten off to a good start, Woodrow added.