Cathay Cargo reported an increase in cargo volumes in May, supported by a pause in the US-China tariff dispute and additional capacity.
The airline recorded an 8.1% year-on-year increase in cargo traffic, reaching 734 million freight tonne kilometers (FTK). Capacity also rose by 8%, and the cargo load factor edged up by 0.1 percentage points to 59.4%.
In terms of tonnage, volumes increased 12.2% compared with a year earlier, totaling 135,807 tonnes.
The cargo division noted that the 90-day pause in the tariff dispute helped stimulate demand, as companies moved goods while duties were temporarily lowered.
Lavinia Lau, the airline’s chief customer and commercial officer, said: “Our cargo business performed well in May, with tonnage 1.8% higher than in April. Despite the Golden Week holidays, we saw growth in both the Hong Kong and Chinese Mainland markets. The temporary reduction in tariffs, pending an agreement between China and the US, boosted short-term demand.
“In addition, our Cathay Live Animal solution experienced robust demand, particularly for exports of live seafood from Southeast Asia and horses from Australia.”
Looking ahead to June, Lau said the airline expects market sentiment to “remain reasonable” and noted the company would continue to monitor developments closely.
For the first five months of the year, demand measured in FTK is up 8.7% compared with the same period last year.
While Cathay Cargo maintained solid growth in June, Hong Kong International Airport (HKIA) reported a slight slowdown in its overall cargo growth for the month.
According to airport figures, cargo volumes in May increased 1.4% year on year to 422,000 tonnes. This was a slight dip compared to the 2.7% growth recorded over the first five months of the year.
“The growth was underpinned by a 12.7% increase in transhipments,” stated the airport authority. “Traffic to and from Europe and the Middle East were the primary drivers of cargo growth, showing the most notable increases during the month.”