Group cargo revenue fell 13.2% to HK$20 million. Cargo capacity at both Cathay Pacific and Cathay Dragon grew 0.6%, but cargo load factor only rose 0.2 percentage points to 64.4%. Demand on European routes was weak, but grew marginally on transpacific routes. The carrier's liquid funds as of 31 December stood at HK$20.1 billion, just down from HK$20.6 billion at the end of 2015. "We expect the operating environment in 2017 to remain challenging," says Cathay chairman John Slosar. "Strong competition from other airlines and the adverse effect of the strength of the Hong Kong dollar are expected to continue to put pressure on yield. The cargo market got off to a good start, but overcapacity is expected to persist." Source: Cirium Dashboard