Cathay’s cargo up 18% in February

Cathay’s cargo up 18% in February    Hong Kong-based airline Cathay Pacific transported 86,705 tons of cargo in February, up 18.1 percent from the same month in 2005.
   Cathay’s cargo load factor in February increased 4.0 points over the same month 2005 to 68 percent, “reflecting continued directional imbalances as far more goods were shipped from Southern China through Hong Kong than were imported from markets such as the United States, Europe and Australia.”
   After two months, the airline carried 178,072 tons of cargo, up 20 percent from 148,349 tons moved in the same period 2005.
   “The market saw a very slow recovery after Chinese New Year with orders for new stock coming in later than usual. A lingering uncertainty and nervousness regarding the trade imbalance is putting pressure on yields. While demand for exports out of China appears to be strong there is over-capacity on the return lanes from the U.S. and Europe, resulting in further yield erosion,” said Ron Mathison, Cathay Pacific’s director and general manager cargo.