- Cathay Pacific’s air cargo volumes in January fell a further 31.8% year on year and 55.5% from January 2019, as the passenger and cargo carrier reduced its long-haul frequencies
- Cargo revenue ton km plunged 64.4% year on year and 73.6% from January 2019 while the cargo load factor slipped 2.8 percentage points to 76.6%.
- Capacity, measured in available cargo ton km, shrank 63.1% year on year and 78.8% from January 2019
- Cathay says further quarantine measures imposed on its Hong Kong-based air crew led it to cut cargo flight capacity in January by about 69% from last December’s level.
Cathay Pacific’s air cargo operation slumped further last month, with a 31.8% drop in volumes from January 2021 reflecting substantial capacity cuts due to COVID-19 restrictions and quarantine requirements in its home base Hong Kong and other markets.
Cathay carried 74,242 tons of cargo last month also reflected a 55.5% dive from pre-pandemic levels in January 2019 as it reduced its long-haul frequencies.
Cargo revenue ton kilometers (RFTK) plunged 64.4% year on year and were down 73.6% from January 2019. The cargo load factor slipped 2.8 percentage points to 76.6%, while capacity, measured in available cargo ton kilometres (AFTK), fell 63.1% year on year and was down by 78.8% from January 2019.
“We’ve had a very difficult start to 2022 with the accelerated spread of the Omicron variant and the further tightening of travel and operational restrictions, notably stricter quarantine requirements for Hong Kong-based air crew,” management said in a statement on Feb 17.
“In light of the additional quarantine measures imposed on Hong Kong-based aircrew, our cargo flight capacity in January reduced by about 69% compared with December 2021, to about 21% of pre-COVID-19 levels,” Cathay said.
The passenger and cargo carrier said the reduction impacted most acutely its long-haul frequencies, where it had to cancel all freight services for seven days in the first week of January as it reviewed crew rostering arrangements.
Since then, Cathay said, it has only been mounting limited freighter flights to the Americas and carrying goods to Europe, the Middle East and Southwest Pacific on by passenger aircraft carrying only cargo.
The carrier said its regional operations remained intact with added focus on opportunities in mainland China and the region, resulting in increased cargo capacity for services to Northeast Asia and the Indian subcontinent where there was good demand before the Lunar New Year.
Cathay said in light of the strict crew quarantine requirements, it will continue to operate a reduced schedule for our long-haul cargo operations, with services to Europe and the Middle East continuing to be served by passenger planes carrying cargo only, while trans-Pacific frequencies will be similar to January.
