The world’s biggest cargo carrier, Cathay Pacific, reported a 17.5 per cent fall in October volumes compared with the same month last year. The airline, along with its subsidiary Dragonair, carried 135,998 tonnes of cargo and mail in October.

“The airfreight industry remained weak overall in October, with our key Hong Kong and China markets continuing to be soft,” said Cathay’s general manager cargo sales and marketing James Woodrow. “It looks unlikely that we will see the usual year-end peak.”

In October, Air China’s cargo and mail throughput amounted to 96,200 tons, down 4.1 per cent from a year earlier.