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Author Name: Tiffany Lee – Marketing Analyst at FreightAmigo｜19/7/2022
Cathay Pacific released its traffic figures for June 2022 on July 15. As COVID-19 pandemic shows a sign of easing, the Hong Kong SAR Government’s travel restrictions and quarantine requirements are relaxed recently. Cathay Pacific has therefore resumed operating at full flight capacity.
According to Cathay Pacific traffic figures, the airline transported 104,559 tons of cargo in June, an increase of 13.13% compared to the previous month. Air cargo capacity is steadily growing in the Hong Kong market because cargo from the mainland increased as pandemic restrictions relaxed. Increased frequencies on Cathay Pacific’s long-haul services have helped deliver more goods to Asia from the Americas and Europe, thus stimulating the growth in cargo business. However, there was a decrease of 4.4% compared to June 2021 and a decrease of 36.2% from the same period in 2019. Air cargo capacity in June was still lower than the pre-pandemic level. This was caused by a decline in consumer demand from North American and European markets, as well as ongoing supply chain issues.
Cathay Pacific Chief Customer and Commercial Officer Ronald Lam stated that they have fully resumed their full freighter schedule by increasing flights to the Americans and Europe in June. Air cargo capacity has also improved. Overall, air cargo capacity in June 2022 increased by 22% than the previous month, which was about 56% of their pre-pandemic level.
The usual peak cargo season is about to begin, and Cathay Pacific stated that they anticipate an increase in cargo demand. By the end of this year, they target to be operating about 65% of their pre-pandemic air cargo capacity.
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