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Cathay, Dragonair first half cargo rises 8pc, but only upticks 0.5pc in June
CATHAY Pacific Airways and Dragonair have reported June air freight up 0.5 per cent year on year to 141,136 tonnes of cargo and mail.
In the first half, tonnage rose eight per cent against a capacity expansion of 8.9 per cent and a 10.5 per cent boost in RTKs.
The load factor fell 2.2 percentage points to 62.7 per cent. Capacity, measured in available cargo/mail tonne kilometres, rose 5.9 per cent while cargo and mail revenue tonne kilometres (RTKs) flown were up 2.2 per cent.
London's Loadstar reported that Shenzhen and Guangzhou appeared to be mounting an air cargo rate war against Hong Kong, one senior forwarder says.
"The Chinese seem to be giving Hong Kong a slap, by opening up Shenzhen and Guangzhou," he said, reported Loadstar. "The Chinese carriers are reliable and some appear to have really cheap fuel."
China Southern, which recently offered freighter flights to Europe, proving popular with forwarders, and last week estimated first half net profits of CNY3.5 billion (US$550 million), driven by demand and low fuel. This stood against last year's loss of CNY1.02 billion.
The Civil Aviation Administration of China reported that cargo traffic in the mainland aviation sector had risen 6.6 per cent, to 2.99 million tonnes in the first half, while profits had reached record highs.
"Growth in the cargo markets has been softening as the year has progressed and we saw a continuation of this trend in June," said Cathay cargo chief Mark Such in a company statement.
"Last month's tonnage growth was almost flat year on year and fell well short of the increase in capacity in percentage terms.
"Traffic out of the home market was generally steady but demand out of mainland China was more sporadic, and was again affected by strong competition. Leveraging our strong network in southeast Asia helped maintain traffic flows on our transpacific services and we did not trim capacity on these lanes.
"Conversely, demand from Asia to Europe remained weak and we pared back freighter services on these routes, relying instead on our extensive passenger aircraft belly lift," he said.
In the first half, tonnage rose eight per cent against a capacity expansion of 8.9 per cent and a 10.5 per cent boost in RTKs.
The load factor fell 2.2 percentage points to 62.7 per cent. Capacity, measured in available cargo/mail tonne kilometres, rose 5.9 per cent while cargo and mail revenue tonne kilometres (RTKs) flown were up 2.2 per cent.
London's Loadstar reported that Shenzhen and Guangzhou appeared to be mounting an air cargo rate war against Hong Kong, one senior forwarder says.
"The Chinese seem to be giving Hong Kong a slap, by opening up Shenzhen and Guangzhou," he said, reported Loadstar. "The Chinese carriers are reliable and some appear to have really cheap fuel."
China Southern, which recently offered freighter flights to Europe, proving popular with forwarders, and last week estimated first half net profits of CNY3.5 billion (US$550 million), driven by demand and low fuel. This stood against last year's loss of CNY1.02 billion.
The Civil Aviation Administration of China reported that cargo traffic in the mainland aviation sector had risen 6.6 per cent, to 2.99 million tonnes in the first half, while profits had reached record highs.
"Growth in the cargo markets has been softening as the year has progressed and we saw a continuation of this trend in June," said Cathay cargo chief Mark Such in a company statement.
"Last month's tonnage growth was almost flat year on year and fell well short of the increase in capacity in percentage terms.
"Traffic out of the home market was generally steady but demand out of mainland China was more sporadic, and was again affected by strong competition. Leveraging our strong network in southeast Asia helped maintain traffic flows on our transpacific services and we did not trim capacity on these lanes.
"Conversely, demand from Asia to Europe remained weak and we pared back freighter services on these routes, relying instead on our extensive passenger aircraft belly lift," he said.
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