Cathay Pacific reported a 15% year-on-year increase in air cargo volumes for November, driven by strong demand across perishables, machinery, and e-commerce sectors. The airline transported 142,601 tonnes of cargo in the month, marking a significant growth compared to November 2023. Cargo revenue tonne kilometres (RFTKs) rose by 11.9%, and the cargo load factor saw a 1.2 percentage point increase, reaching 62.3%. Available cargo tonne kilometres (AFTKs) also climbed by 9.8%, reflecting the ongoing recovery of capacity in the market.
For the year-to-date period, Cathay Pacific’s cargo tonnage surged by 10.9%, totaling 1,388,501 tonnes. This growth outpaced an 8.9% rise in AFTKs and a 4.8% increase in RFTKs, when compared to the same period in 2023.
Lavinia Lau, Chief Customer and Commercial Officer at Cathay Pacific, explained that while November’s tonnage was on par with the previous month, it marked a 15% increase year-on-year. “We saw robust market momentum during the peak season, particularly driven by e-commerce sales events in Hong Kong and other Greater Bay Area cities,” Lau said.
High demand for perishables from the Americas and Southwest Pacific was also a key driver, with significant shipments to Hong Kong and other Asian destinations. Additionally, there was an uptick in machinery and engine shipments via Cathay’s Expert solution, particularly from Japan. As the festive season approached, mail volumes also began to rise.
November also saw the successful relaunch of Cathay Courier, marked by a new marketing campaign that highlighted the service’s time-sensitive delivery capabilities. Lau noted that the airline is expecting a strong financial finish to the year, driven by continued cargo demand and lower fuel prices.
Cathay Pacific’s head of global cargo partnerships, Chris Bowden, and Fred Ruggiero, Vice President of Cargo for the Americas, both expressed optimism for 2025, citing a busy peak season and promising outlook for the coming year.
