Cathay Pacific has released its operational results for January, revealing a strong performance for its cargo division.
Cathay Cargo transported 130,572 tonnes of freight during the month, marking a 13.7% increase compared to January 2024. Revenue freight tonne-kilometers (RFTKs) rose 9.9% year-on-year, reaching 702 million.
Capacity also expanded, with available freight tonne-kilometers (AFTKs) up 14.7% from the previous year. However, due to this increase in capacity, the cargo load factor dropped by 2.5 percentage points compared to January 2024.
Lavinia Lau, Cathay Pacific’s chief customer and commercial officer, commented on the cargo market’s performance.
“Cargo got off to a slower start after the New Year holidays, but demand gradually picked up pace as we approached the traditional pre-Lunar New Year rush,” Lau explained.
She highlighted strong demand for perishables and seasonal produce from the Southwest Pacific, as well as a rise in high-value cargo shipments from Southeast Asia, South Asia, the Middle East, and Africa through the Cathay Secure service.
However, Lau also noted that demand is expected to soften in the post-Lunar New Year period.
In addition to regular cargo operations, Cathay Cargo recently transported around 70 horses to Hong Kong for the Hong Kong International Horse Show. The prestigious Longines event took place at AsiaWorld-Expo from February 14-16.
Cathay Cargo remains adaptable in response to evolving trade conditions. In late January, director of cargo Tom Owen emphasized the company’s flexible strategy in managing schedules, network optimization, and freighter deployment.
“We’re closely monitoring trade flow developments, particularly with the changing administration in the US and other global factors affecting international trade,” Owen stated.
This focus on flexibility is part of Cathay Cargo’s broader strategy to enhance resilience and adaptability in an unpredictable economic landscape.