Cathay Pacific Airways of Hong Kong expects cargo demand to pick up after the Chinese National Day holidays in the first week of October, but warns that it will not be a repeat of last year’s “super-peak.”
In its newsletter on Friday, the airline predicted that cargo demand would increase as COVID-19 curbs were lifted in China, resulting in higher shipping volumes, particularly during the year-end holidays, which are typically a frantic period for air cargo and shippers.
Cathay Pacific’s views come as global trade key indicators predict lower demand as consumers grapple with rising food, fuel, and housing costs. FedEx withdrew its forecast earlier this month, citing an acceleration in the global demand slowdown.
“At the moment, the market is finely balanced, with many intricate, interconnected forces at work, creating a degree of uncertainty as we look ahead,” Cathay wrote in the newsletter.
