Cathay Pacific posts 20.7% rise in cargo volume for Dec

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Cathay Pacific posts 20.7% rise in cargo volume for Dec
Cathay Pacific's available cargo ton kilometers (AFTK) surged by 26.3% in December. Over the course of 2023, cargo tonnage recorded a 19.6% increase, aligning with a 59.7% surge in AFTKs and a 40.3% rise in cargo revenue ton kilometers compared to 2022. Photo from Cathay Pacific.
  • Cathay Pacific posted a 20.7% increase in cargo volume for December
  • The Hong Kong-based carrier transported 128,546 tons of cargo
  • The Cathay Group, including Cathay Pacific and HK Express, saw a 122.1% surge in air passengers in December to 1,779,457
  • Cathay Pacific expressed optimism for 2024, as it anticipates strong demand during the approaching Lunar New Year period and the resumption of its Barcelona service in June

Cathay Pacific posted a 20.7% year-on-year rise in December cargo volume to 128,546 tons, the Hong Kong-based airline said in a statement.

Cargo revenue ton kilometers (RFTKs) jumped 14.1% year-on-year, while the cargo load factor witnessed a saw 6.5 percentage point decrease at 60.8%.

Available cargo ton kilometers (AFTKs) surged by 26.3%. Over the course of 2023, cargo tonnage recorded a 19.6% increase, aligning with a 59.7% surge in AFTKs and a 40.3% rise in RFTKs compared to 2022.

The Cathay Group, consisting of Cathay Pacific and HK Express, also reported a 122.1% year-on-year surge in air passengers for December to 1,779,457 passengers.

For the entire 2023, traffic surpassed 20 million passengers, far exceeding the three million passengers carried in 2022.

“December traditionally marks the peak travel season, and we observed increased travel during the extended Christmas holiday period,” said Lavinia Lau, chief customer and commercial officer.

Lau noted the demand for short-haul leisure destinations, especially in Japan and Southeast Asia, as well as positive travel trends from the United States, Southwest Pacific, and the United Kingdom.

Despite global aviation challenges, Cathay Pacific remains optimistic for 2024, citing the progress of the “rebuild journey” for 2023.

Lau said, “The approaching Lunar New Year is anticipated to be another peak travel period. We expect strong demand from late January until the end of the Lunar New Year holiday. Additionally, we are pleased to announce the resumption of our Barcelona service in June, underscoring our commitment to serving our customers.”

For the cargo sector, Cathay Group anticipates a steady uptick in demand, particularly in e-commerce, on the Americas and European lanes leading up to the Lunar New Year holidays.

READ: Cathay Pacific transports 13.7% more cargo in October