Hactl Q1 Air Cargo Traffic Down 2.5 Pct

April 13, 2012

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Hong Kong Air Cargo Terminals (Hactl) said on Friday its cargo traffic fell 2.5 percent in the first quarter from the same period a year ago, as the global economy slowed.

It handled a total of 633,935 tonnes of cargo in the January to March period, with exports and imports decreasing 1.7 percent and 13.3 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 of Hong Kong's airport.

"We have progressively closed the gap which opened up during 2011, when we experienced a fall to as much as 12 percent below the previous year's strong performance in May 2011," Lilian Chan, Hactl's executive director, said in a statement.

"We remain hopeful but cautious. Important markets in Europe and the USA are still unsettled," Chan said.

(Reuters)