Cathay’s March volume down 13.7%

Cathay’s March volume down 13.7%    Cathay Pacific Airways said March cargo volume dropped 13.7 percent compared to the same month in 2008.
   The airline, and sister carrier Dragonair, shaved capacity by 10 percent in March, but its cargo load factor fell 0.3 percent to 67.9 percent. For the year, tonnage has fallen 18.7 percent compared to a capacity drop of 14.1 percent.
   'The sharp drop in tonnage compared to the previous year highlights the continued weakness of the global air freight business, and the fierce competition in shrinking markets is putting tremendous pressure on our cargo yield,' said Titus Diu, Cathay Pacific general manager of cargo sales and marketing, in a statement.
   'The market out of Hong Kong continues to be hit by a fall in production in the key Pearl and Yangtze river delta areas, though our business to and from the United States received a lift from the launch of a new service to Miami and Houston which is giving us greater access to the important South American markets,” Diu said.