Cathay Cargo volume up 20 percent in December

Cathay Pacific’s cargo business ended 2023 on a high note, finishing with around 1.4 million tonnes, compared with about 1.2 million tonnes in 2022, in what it described as ‘an encouraging result.’

Cargo volume in December jumped 20.7 percent year on year, as the airline carried 128,546 tonnes with cargo revenue increasing 14.1 percent year on year for the month. The cargo load factor slid 6.5 percentage points to 60.8 percent, as capacity measured in available cargo tonne kilometres (AFTKs) increased by 26.3 percent year on year.

In the full year of 2023, the tonnage increased by 19.6 percent against a 59.7 percent increase in AFTKs and a 40.3 percent increase in RFTKs, as compared with 2022, the airline noted.

“Our cargo business performed well in December, and finished on a high, primarily driven by the strong year-end demand for e-commerce products. Additionally, there was increased demand for perishable goods for the holiday season. December also saw a pickup in our Live Animal solutions with significant numbers of racehorses being moved across our network in support of the Hong Kong international race events.