Cathay Pacific says air cargo peak season may be less strong this year
2022.09.01 07:10
FILE PHOTO: A Cathay Pacific Cargo Boeing 747-8F plane descends before landing at Hong Kong Airport in Hong Kong, China April 4, 2018. REUTERS/Bobby Yip
(Reuters) – Hong Kong’s Cathay Pacific Airways (OTC:CPCAY) Ltd said on Thursday that the peak season for air cargo this year may not be as strong as last year because of supply chain snags, the impact of inflation on consumer demand and China’s COVID policies.
“We expect that this year’s peak season may not be the same as last year’s,” Cathay freight executives said in an email update to air cargo clients.
The fourth quarter is typically the peak season for air cargo because of consumer electronics product launches and the busy Christmas holiday period. Many air freight carriers reported record revenue in the peak season last year.
