Year-to-date cargo volumes up 11.3%; Southeast Asia and Taiwan–Americas routes lead growth
The Cathay Group has reported a 6.3% year-on-year increase in cargo volumes for June 2025, continuing its upward momentum despite ongoing uncertainties in global trade. Cathay Cargo moved 132,462 tonnes during the month, bringing the total for the first half of the year to 800,753 tonnes—an 11.3% rise over the same period in 2024.
The cargo division’s growth was supported by increased demand on key transpacific lanes and sustained momentum in high-value sectors, particularly high-tech and pharmaceutical logistics. Available Freight Tonne Kilometres (AFTKs) rose by 5% in June, although the cargo load factor dipped marginally by 1.1 percentage points to 58.5%, indicating a looser supply-demand balance as capacity outpaced growth in carried volumes.
Cathay Cargo’s Chief Customer and Commercial Officer, Lavinia Lau, credited the growth to strategic market alignment and demand linked to global tariff shifts.
“Our cargo business continued to see year-on-year growth in June, largely due to tariff timelines and resulting market behaviour,” said Lau. “We observed significant growth in tonnage from Southeast Asia and the Taiwan region to the Americas, driven by both general cargo and high-tech electronics. Our Cathay Pharma product also performed well across long-haul trade lanes.”
Lau also noted that while the outlook for July remains tempered by demand-side volatility, the airline will remain responsive to market developments and agile in capacity planning.
First Half 2025 Cargo Performance Overview:
- Cargo carried: 800,753 tonnes (↑11.3% YoY)
- Available Freight Tonne Kilometres (AFTKs): 7.34 billion (↑8.1%)
- Revenue Freight Tonne Kilometres (RFTKs): 4.30 billion (↑5.9%)
- Freighter sectors: 7,443 flights (↓3.1% YoY)
- Cargo load factor: 58.6% (↓1.2 percentage points)
The airline’s freighter activity remained robust, even as the total number of freighter sectors slightly declined year-on-year—suggesting improved efficiency or strategic redeployment of capacity across key corridors.
Group Network and Outlook
While cargo remained a key contributor, the Cathay Group’s passenger operations also saw strong growth in June, with Cathay Pacific and HK Express carrying a combined 2.9 million passengers—a 23.3% increase over June 2024.
The group added five new passenger destinations in June alone, expanding its global reach to over 100 destinations. Cathay Pacific’s long-haul outlook remains strong for the summer travel season, further supporting bellyhold cargo capacity across Europe and North America.
“We continue to grow our global network, creating synergies across cargo and passenger operations,” said Lau. “Our agile approach allows us to respond effectively to changing trade flows, customer needs, and geopolitical shifts impacting supply chains.”
Cathay Cargo has been a consistent performer within the Group’s portfolio, contributing to resilience amid fluctuating passenger demand in some markets. Its diversified product portfolio—including Cathay Pharma, Fresh LIFT, and specialist solutions for high-tech shipments—has positioned it competitively across transpacific and inter-Asia trade lanes.
As global air cargo enters a transitional period marked by shifting production hubs and trade policy changes, Cathay Cargo appears well-positioned to navigate the evolving landscape through a combination of fleet flexibility, digital innovation, and strategic market diversification.
In brief:
Cathay Cargo experienced steady growth in June 2025, despite evolving global trade dynamics, with a 6.3% increase in cargo tonnage compared to June 2024. The airline carried over 132,000 tonnes of cargo during the month. However, the number of freighter flight sectors operated by Cathay Cargo decreased by 6.3% year-on-year.
Here’s a more detailed breakdown:
- Cargo Tonnage Increase:Cathay Cargo carried 132,462 tonnes of cargo in June 2025, which is a 6.3% increase compared to June 2024.
- Freighter Flight Sectors:While cargo volume increased, the number of freighter flight sectors operated by Cathay Cargo decreased by 6.3% year-on-year, with 1,234 sectors flown in June.
- Shifting Global Trade:The growth is occurring amidst changing global trade patterns, with factors like technological advancements, geopolitical situations, and the pursuit of economic growth influencing trade flows.
- Increased Demand:Cathay Cargo’s growth in June was partly attributed to increased demand on routes from Southeast Asia and Taiwan to the Americas, driven by high-tech electronics and pharmaceutical shipments.
- First Six Months:For the first six months of 2025, Cathay Cargo saw an 11.3% increase in total tonnage compared to the same period in 2024.
