HACTL Q4 Cargo Traffic Down 7.3 Percent

January 18, 2012

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Hong Kong Air Cargo Terminals (HACTL) said on Wednesday that its cargo traffic fell 7.3 percent in the fourth quarter from the same period a year ago and expects further challenging times until confidence returns in the US and European markets.

It handled a total of 710,021 tonnes of cargo in the October to December period with exports and imports decreasing 9.3 percent and 11.9 percent respectively from a year earlier.

HACTL is a major air cargo player in Hong Kong, which is a re-export centre for trade between Asia and the rest of the world. It handles about 70 percent of the cargo traffic at Hong Kong Airport.

"The last quarter showed improvement, and gives us some hope that 2012 may start more strongly than we expected," Lilian Chan, HACTL's executive director, said in a statement.

"But we are still cautious about 2012. The best efforts of our carriers, Hong Kong International Airport and HACTL can do little to counteract the continuing soft demand from China and Hong Kong into the world's consumer market," she said.

"Until confidence returns particularly in the USA and Europe, we can expect further challenging times and fairly flat performance," Chan said.

(Reuters)