Cathay volume falls 10% in June

Cathay volume falls 10% in June    Cathay Pacific and sister airline Dragonair saw cargo tonnage fall 10 percent in June compared to the same month in 2008.
   The two airlines combined carried 123,860 tons of cargo last month, while the cargo load factor rose by 3.8 percentage points to 71.3 percent. Capacity for the month, measured in available cargo/mail ton kilometers, was down 14.3 percent from last year. For the year, tonnage has fallen 15.4 percent compared to a capacity drop of 14.1 percent.
   'June cargo traffic was still down year on year, though the monthly drop was the lowest so far in 2009 and the tonnage decline was behind the cut in cargo capacity,' said Titus Diu, Cathay Pacific general manager cargo sales and marketing. 'There are signs that the air freight market has bottomed out, though as yet we are not seeing any sustained upswing in demand. Competition in the various cargo markets we serve remain fierce and as such yield remains under considerable pressure.'