Cathay Pacific Airways said on Monday that March freight traffic fell 10.7 percent from a year earlier but passengers carried and capacity grew. The number of passengers carried in March rose 10.6 percent to 2.39 million. The passenger load factor was also up at 79.4 percent.
"March was the strongest month of the year so far for our cargo business. This was thanks to large shipments of hi-tech consumer products from China to key markets around the world combined with capacity reductions by both Cathay Pacific and our competitors," General Manager for Cargo Sales and Marketing James Woodrow was quoted as saying in a statement.
"However, the general market for air freight remains soft, particularly into Europe. There is poor visibility looking forward and little sign of any sustained pick-up in demand. We expect business to be weaker in April and we will continue to reduce capacity as necessary," he said.
"Passenger volumes were generally robust in March, though year-on-year comparisons are distorted somewhat by the negative impact of last year's earthquake and tsunami in Japan," said General Manager for Revenue Management James Tong.