Cathay’s cargo slump
16 / 01 / 2012
WEAK demand out of China has dampened Cathay Pacific hopes of a cargo recovery.
Freight transported by Cathay Pacific and sister carrier Dragonair in December 2011 slipped 11.9 per cent year-over-year.
“Demand out of our key markets in Hong Kong and mainland China remain soft and there is no sign of any upturn in prospect as we move into 2012,” James Woodrow (pictured), general manager of cargo sales and marketing, comments.
Load factor declined 9.6 per cent year-over-year to 67.8 per cent, while capacity rose 3.9 per cent in the same period. Cathay and Dragonair saw cargo traffic in 2011 fall 8.6 per cent year-over-year and capacity contract 5.2 per cent.
“On the positive side, we have been seeing good contributions from recently added destinations such as Chengdu, Chongqing and Zaragoza (Spain) and we will continue to seek out new business opportunities,” Woodrow adds.