HONG KONG's Cathay Pacific Airways announced that its May air cargo and mail volume, including Dragonair's, fell 12.9 per cent year on year to 138,095 tonnes.

    The cargo and mail load factor was also down 10.9 percentage points to 68.2 per cent. Capacity was up 6.1 per cent, but cargo and mail tonne kilometres flown were down 8.6 per cent. In the first five months, tonnage has dropped 3.1 per cent versus a capacity increase of 16.4 per cent.

    Said Cathay cargo chief James Woodrow: "In May the market remained quiet and well below the strong May 2010 result when restocking of inventories remained in full swing. Europe was particularly weak and Cathay Pacific reduced Europe capacity to better match the lower level of demand."

(Resource:http://www.shippingonline.cn)