Cathay’s air freight traffic up 19.8% in September

Cathay’s air freight traffic up 19.8% in September    Cathay Pacific carried 100,292 tons of cargo in September, a 19.8 percent rise compared to the same month last year.
   For the year-to-date, the airline has carried 808,961 tons of cargo, up 13.6 percent over the 711,801 tons in the year earlier period.
   “September’s high tonnage growth, boosted by transshipment, masks the softening in demand for exports from China, including a slowdown in garment shipments,” said Ron Mathison, Cathay Pacific’s director and general manager cargo. “We have seen a significant increase in cargo capacity in the market in the last few months and remain highly concerned about the pressure on yields and loads, particularly in the context of high jet fuel prices,” he added.
   The airline said recent market jet fuel prices have topped $85 per barrel, up by more than one-third from the first half of this year.