Cathay Pacific Cargo Traffic Plunges 11.9 Percent

Cargo transported by Cathay Pacific and sister carrier Dragonair in December plunged 11.9 percent year-over-year but grew 7.3 percent from November, as the carrier’s traffic contraction slowed after falling for the ninth straight month.

“Demand out of our key markets in Hong Kong and mainland China remain soft, and there is no sign of any upturn in prospect as we move into 2012,” James Woodrow, general manager of cargo sales and marketing

The carriers’ load factor dropped 9.6 percent points year-over-year to 67.8 percent, while capacity rose 3.9 percent in the same period. Cathay and Dragonair saw cargo traffic in 2011 fall 8.6 percent year-over-year and capacity shrink 5.2 percent.

“On the positive side, we have been seeing good contributions from recently added destinations such as Chongqing, Chengdu and Zaragoza and we will continue to seek out new business opportunities,” Woodrow.

-- Contact Mike King at michael@borderline.eu.com