Cathay cargo outlook for 2019 cloudy
It dipped another 5.2 percent in January as the pre-Chinese New Year rush was not as strong as last year. Cathay Pacific Director Commercial and Cargo Ronald Lam said in a note sent to the Global Times that Chinese New Year this year was earlier than last, leading to a slight distortion in both passenger and cargo revenue for January and February.
The cargo outlook this year is “a bit murky,” Cheng said. The International Air Transport Association released full-year 2018 data for global air freight markets showing that demand, measured in freight ton kilometres, grew by 3.5 percent compared to 2017.
Cathay cargo capacity rose by 5.4% in 2018
This was significantly lower than the extraordinary 9.7 percent growth recorded in 2017. Freight capacity, measured in available freight ton kilometres, rose by 5.4 percent in 2018, outpacing annual growth in demand. This exerted downward pressure on the load factor but yields proved resilient.
The world’s top two economies are holding talks to settle their dispute. Tariffs on $200 billion worth of Chinese imports are scheduled to rise to 25 percent from 10 percent by March 1 if there is no deal, although US President Donald Trump has suggested he was open to pushing the deadline.