HONG KONG’s Cathay Pacific capacity increased by 117 per cent in the first half as belly space on long-haul passenger flights was reintroduced, while air cargo volume rose 23.8 per cent, reported New York’s Journal of Commerce. Global air cargo rates in the second quarter remained well above 2019 levels despite capacity steadily increasing to pre-pandemic levels and a sharp drop in demand across most major trade lanes. The supply-demand imbalance saw second-quarter pricing drop 40 per cent year...