Cathay August volume drops 6.3%
Cathay Pacific Airways said its cargo volume fell 6.3 percent in August, well below the 13.1 percent drop the airline has seen for the whole of 2009.
Cathay and sister airline Dragonair carried 131,732 tons of cargo during August as their combined load factor rose 6.1 percent to 72 percent. Capacity during August dropped 14.1 percent.
'Our cargo business showed further signs of bottoming out in August with the lowest year-on-year tonnage decline of the year to date and a continued increase in demand out of our key home market,' said Titus Diu, general manager of cargo sales and marketing. 'However, while tonnage is undoubtedly picking up there is still a lot of competition in the market, and our yield has yet to see any significant pickup from a very low base.'
Cathay August volume drops 6.3%
