Cathay’s October cargo up 14.8%

Cathay’s October cargo up 14.8%    Cathay Pacific carried 103,962 tons of cargo in October, up 14.8 percent from the same month in 2004.
   The Hong Kong-based airline said its freight traffic was boosted by an increase in transshipment cargo to and from Shanghai, although the cargo load factor was down 1.4 points to 69.9 percent, reflecting weak demand for exports from Europe and the United States to Asia.
   “Even though we are now entering the busiest time of the year for air cargo, there are signs of weakening demand, most likely a result of high fuel prices dampening the economy,” said Ron Mathison, Cathay Pacific’s director and general manager cargo. “Yields are under pressure as a result of a large increase in competitor capacity and we remain concerned about the impact of high jet fuel prices on our business.”
   For the year-to-date, the airline has carried 912,924 tons of cargo, up 13.8 percent over the 802,334 tons carried after 10 months last year.