Cathay Pacific carried 142,601 tonnes of cargo in November 2024, an increase of 15 percent compared with November 2023.
“The month’s cargo revenue tonne kilometres (RFTKs) increased 11.9 percent year on year. The cargo load factor increased by 1.2 percentage points to 62.3 percent while available cargo tonne kilometres (AFTKs) increased by 9.8 percent year on year,” says an official release.
In the first 11 months of 2024, tonnage increased by 10.9 percent to 1,388,501 tonnes on 8.9 percent increase in AFTKs and a 4.8 percent increase in RFTKs compared with the same period for 2023, the release added.
“In terms of cargo, November tonnage was at similar levels to the previous month but was 15% higher year on year,” says Lavinia Lau, Chief Customer and Commercial Officer, Cathay Pacific. “We observed healthy market momentum during the peak season, particularly from Hong Kong and other cities in the Greater Bay Area driven by e-commerce sales events.
“There was high demand for perishables from the Americas and Southwest Pacific, with significant deliveries to Hong Kong and other regional routes in Asia. Additionally, we observed an increase in tonnage of our Cathay Expert solution due to transportation of machinery and engines, especially from Japan. Our mail volumes also started to rise as we approach the festive season.
“November also saw the successful launch of our new marketing campaign for Cathay Courier following the special solution’s relaunch in July this year, with our first video showcasing our time-sensitive delivery capabilities.”
Outlook
The Group projects a strong second-half financial result driven by elevated cargo demand and reduced fuel prices, Lau added.