Cathay, Dragonair cargo rises in May

Cathay, Dragonair cargo rises in May Cathay Pacific and its wholly owned subsidiary Dragonair carried a combined 127,653 tons of freight in May, a 1.5 percent increase from both airlines’ performances in the same month last year.
   The Hong Kong-based airlines’ monthly cargo load factor dropped 2.2 percentage points year-on-year to 64.9 percent as capacity, measured in available cargo and mail ton kilometers, rose 4.2 percent.
   After the first five months of the year, the airlines flew 628,405 tons of goods, down 0.8 percent. The cargo load factor for the period fell 3.1 percentage points to 64.9 percent with capacity up 3.9 percent.
   “Air cargo is facing increasing competition from ocean cargo as a result of higher jet fuel prices,” said Ron Mathison, Cathay Pacific’s director and general manager cargo. “At the same time, freight rates are under pressure due to the influx of extra freighter capacity in the region. Demand, however, is still growing strongly out of Mainland China and into the Indian subcontinent and we remain confident about the long-term growth prospects in Asia.”