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Cathay Pacific carried 124,568 tons of cargo in June 2024, up 12% increase compared to June 2023
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June’s cargo revenue ton kilometers rose 5.6% year-on-year. The cargo load factor dropped 2.1 percentage points to 59.6%, while available cargo ton kilometers increased by 9.4% year-on-year
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From January to June 2024, tonnage rose by 10.5% to a total of 729,464 tons, against an 11.4% increase in AFTKs and a 4.6% rise in RFTKs, compared with the same period last year
Cathay Pacific carried 124,568 tons of cargo in June, up 12% from the same month last year, the Hong Kong-based airline said.
June’s cargo revenue ton kilometers (RFTKs) rose 5.6% year-on-year. The cargo load factor dropped 2.1 percentage points to 59.6%, while available cargo ton kilometers (AFTKs) increased by 9.4% year-on-year.
From January to June 2024, tonnage rose by 10.5% to a total of 729,464 tons, against an 11.4% increase in AFTKs and a 4.6% rise in RFTKs, compared with the same period last year.
“June is traditionally a slower month for air cargo. However, demand was stronger than anticipated and we observed strong year-on-year tonnage growth from Hongkong, the Chinese mainland, Japan, and Europe in particular,” chief customer and commercial officer Lavinia Lau said in a news statement.
Across the airline’s network, tonnage was higher than May and 12% above June 2023, said Lau, adding that in terms of commodity mix, “we observed an uptick in pharmaceuticals shipments, especially from Europe.”
In June, the company launched Cathay Expert to provide customers with a fully customized handling solution for odd size, heavy or fragile cargo. Response from customers has been positive, said Lau.
The traffic figures released last week saw new records achieved. By June 30, 2024, Cathay Pacific and HJ Express together carried some 92,000 passengers combined. It was the highest daily number since the pandemic.
In the first six months of the year, the two airlines carried some 13.5 million passengers.
Cathay carried 1,837,706 passengers in June 2024, an increase of 18.7% compared with June 2023. The month’s revenue passenger kilometers rose 23.7% year on year. Passenger load factor dropped by 4.2 percentage points to 83.5%, while available seat kilometers were up by 30% year on year.
Lau said the outlook for summer travel remains robust, and Cathay will continue to introduce new destinations for its customers.
For cargo, Lau said the second half of 2024 is the traditional peak period and the healthy demand of the first half is seen to continue. Market sentiment for Hongkong and mainland China remains positive.
“We will continue to adjust our freighter capacity to accommodate our customers’ needs, including adding more freighter capacity to the Americas,” said Lau.
