U.S. exports, Indian imports drive Cathay’s February cargo gains
Hong Kong’s Cathay Pacific Airways said its February cargo sales were boosted by a strong growth in U.S. exports and extra freighter services to India.
Cathay and sister airline Dragonair carried a combined 121,101 tons of cargo and mail in February, a 7.6 percent rise year-on-year. The monthly cargo and mail load factor was up 0.9 points to 64.6 percent while capacity, measured in available cargo and mail ton kilometers, increased 8.3 percent. After two months, their combined cargo tonnage has grown 8.3 percent to 257,714 tons against a capacity rise of 9.3 percent.
“The market saw a slow recovery after Chinese New Year and yields remain under pressure,” said Ron Mathison, Cathay’s director and general manager cargo. “However, overall revenue was boosted by strong growth in exports from the United States and the addition of more freighter services to India. U.S. exports are rendered more competitive by the fall in the U.S. dollar, while India’s economic growth is driving increased levels of demand for imports.'