The cargo business of Cathay Pacific Airways faced top-line declines just like several other carriers, with a 9% fall of cargo revenue down to US$3.0b resulting from decreasing fuel charges. The company did not bring out any separate operating incoming data for the air freight department they have, but considering the 5.4% rise to 10.58b RTKs in cargo rush of the year and the fuel surcharges being a move through cost, one can estimate a beneficial contribution of cargo to the bottom line of the carrier.
The airline did not release such data but did offer a commentary, extensive and point-by-point, on its several other 2015’s cargo performance aspects. Below given are some highlights of the commentary:
- Low fuel rates brought benefits to cargo profits for the year 2015.
- They managed capacity following the demand.
- Under the passenger aircraft belief, they carried higher proportion i.e. 57% of the total shipments of cargo
- Hong Kong made strong demands of shipping cargo in 2015’s Q1, but weak after that to the end of the year, however no rise in Europe’s demand in 2015.
- North America’s demand was better than estimated.
- Vietnam kept a strong demand of shipments of perishable goods and electronic parts.
- India kept a major demand of cargo shipments for using in infrastructure projects. A cargo service freighter was introduced last year in March to Kolkata.
- Two freighter services to North-America every week were added in April last year.
- The cargo terminal Cathay Pacific at the International Airport of Hong Kong handled 1.7m tonnes cargo for the year 2015, 13% more in comparison to 2014.
- Also a system of mail scanning as well tracking was introduced in 2015.
- Though their business is facing several challenges, they are confident in the long-term prospects as well as in the city’s future as one of the best international air freight