Cathay Pacific reports sixth consecutive month of cargo declines; no sight of year-end peak

Cathay Pacific reported (14-Oct-2011) a sixth consecutive month of year-on-year cargo declines in Sep-2011, with Cathay Pacific GM cargo sales and marketing James Woodrow adding that "there is no sign yet of the traditional year-end peak beginning" (Reuters, 14-Oct-2011).

Cathay Pacific: "On the cargo side there was no significant change from the situation in August, with the key Hong Kong and China markets both remaining soft and demand to long-haul destinations, particularly Europe, below expectations. There is no sign yet of the traditional year-end peak beginning. On the positive side, intra-Asia traffic is holding up well and flights from most destinations into Hong Kong have been relatively full. We have recently launched freighter services to Chongqing and Chengdu to boost our presence in the growing Western China market," James Woodrow, General Manager Cargo Sales & Marketing. Source: Company Statement.