Air cargo carriers, Cathay Pacific along with Dragonair, its sister carrier, moved 117,299 tonnes freight and mail totally in February, which is a fall of 10.1% on 2015’s February. As the measured capacity in available mail/cargo tonne kms rose 1.1%, and the RTKs for both fell 10.4%, consequently the factor of freight and mail load dropped down by 7.5% points to a figure of 58.0%.
Mark Sutch, General Manager, freight marketing & sales, Cathay Pacific, reminded that in the beginning of February, demand of air freight fell sharply with Mainland China’s factories breaking for the holiday on China’s New Year; adding that compared to last year’s holiday period, there was a slower demand in getting speed after the reopening of factories, which brought major concentration of freight with lower-yield from India and Southeast Asia being uplifted upon their transpacific cargo planes.
Sutch also mentioned that older aircrafts have become more viable economically with the sustained fall in prices of fuel and the consequential overcapacity is continuously putting a pressure downward on cargo freight yields.
For 2016’s very first months, particularly both January and February, volume of air freight transported by Cathay Pacific’s two airlines fell YOY by 4.6%. As against the 1.8% rise in capacity, RTKs had a drop of 5.2%.
There is going to be a rebranding of Dragonair with the name Cathay Dragon aiming at a close alignment between both the brands. However, there won’t be any change in their operating systems, as they will continue to work as two separate carriers with their own different licenses.