Demand is expected to continue throughout the rest of the peak season, driven by e-commerce, high-tech & electronic goods.
Cathay Pacific carried 142,323 tonnes of cargo in October 2024, an increase of 14 percent compared with October 2023. “Cargo revenue tonne kilometres (RFTKs) increased 10 percent year on year. The cargo load factor increased by 0.8 percentage points to 61.5 percent while available cargo tonne kilometres (AFTKs) increased by eight percent year on year. In the first 10 months of 2024, tonnage increased by 10 percent to 1,245,899 tonnes against a nine percent increase in AFTKs and a four percent increase in RFTKs compared with the same period for 2023.”
Lavinia Lau, Chief Customer and Commercial Officer, Cathay Pacific says: “The traditional cargo peak season continued in October with tonnage seven percent higher than the previous month and 14 percent above October last year. Our cargo business continued to perform well despite various seasonal holidays. This momentum was driven not only by demand from Hong Kong and the Chinese Mainland but also from our broader network, particularly the Americas.
“While general cargo demand continued to grow during this period, we also noted an increase in shipments through our Cathay Expert services due to machinery movements out of Northeast Asia. Demand for Cathay Priority also maintained its upward trend, reflecting a stronger need from shippers to replenish inventory ahead of the upcoming festivals and year-end sales events.”
Outlook “For cargo, the robust demand we have been seeing is expected to continue throughout the rest of the peak season, driven by e-commerce, high-tech and electronic goods from the Chinese Mainland and Southeast Asia as well as perishables from South West Pacific and the Americas,” says Lau.
