Cathay’s air freight traffic up 22.1% in July
Hong Kong-based Cathay Pacific reported today a 22.1 percent year-on-year jump in air freight traffic for August to 94,522 tons.
For the year-to-date, the airline has carried 708,670 tons of cargo, up 12.8 percent over the 628,114 tons carried in the year earlier period.
“August’s figures were in some ways below expectations as high transshipment tonnage growth masked a weaker performance in exports from southern China,” said Ron Mathison, Cathay Pacific’s director and general manager cargo. “Rates are under pressure as a result of excess capacity being deployed into China and Hong Kong and we are concerned about the impact of high fuel prices on demand.”