Cathay Pacific recorded a 15% year-on-year increase in air cargo volumes in November, driven by perishables, machinery, and e-commerce. The airline transported 142,601 tonnes of cargo during the month, with cargo revenue tonne kilometers (RFTKs) rising 11.9% year on year. The cargo load factor increased to 62.3%, up 1.2 percentage points, while available cargo tonne kilometers (AFTKs) grew by 9.8% as capacity rebounded.
Year-to-Date Growth
From January to November, Cathay Pacific’s cargo tonnage climbed by 10.9% to 1,388,501 tonnes compared to the same period in 2023. This growth outpaced the 8.9% increase in AFTKs and the 4.8% rise in RFTKs over the same timeframe.
Peak Season Momentum
Chief Customer and Commercial Officer Lavinia Lau highlighted strong market momentum in November, bolstered by e-commerce sales events in Hong Kong and the Greater Bay Area.
“There was robust demand for perishables from the Americas and Southwest Pacific, with significant shipments to Hong Kong and across Asia,” Lau said. “We also saw a rise in machinery and engine transportation via our Cathay Expert solution, particularly from Japan. As the festive season approaches, mail volumes have begun to climb.”
Expanded Offerings and Optimism for 2025
November marked the launch of a new marketing campaign for Cathay Courier, showcasing its time-sensitive delivery capabilities after the service’s relaunch in July 2023.
Cathay Pacific projects a strong financial performance in the second half of the year, supported by high cargo demand and reduced fuel prices.
Cathay Cargo’s Head of Global Cargo Partnerships Chris Bowden and Vice President Americas Fred Ruggiero noted a busy peak season and expressed optimism for continued growth in 2025.
With sustained demand for perishables, machinery, and e-commerce, Cathay Pacific continues to strengthen its cargo operations and global presence.