Cargo carried by Cathay Pacific Airways and Dragonair contracted for the sixth straight month in September as demand for exports out of China remained weak with no sign of a buildup toward a peak season.
The carrier had predicted a strengthening market in late September but September volume of 131,443 metric tons was 10.1 percent lower than a year earlier and freight demand in September was not as strong as it was in August.
Traffic measured in freight-ton kilometers fell 7.9 percent in September, and the traffic fell back 1.2 percent sequentially from August. Capacity also slipped slightly from August to September.
Total tonnage uplifted in the first nine months of this year by the carriers was 2.8 percent lower than the same period of 2010, while capacity was 9.8 percent greater.
"On the cargo side there was no significant change from the situation in August, with the key Hong Kong and China markets both remaining soft and demand to long-haul destinations, particularly Europe, below expectations,” said Cathay Pacific General Manager Cargo Sales and Marketing James Woodrow.
“There is no sign yet of the traditional year-end peak beginning,” he said.
“On the positive side, intra-Asia traffic is holding up well and flights from most destinations into Hong Kong have been relatively full.”