Over October 2018, Cathay Pacific Group reported an increase in both the number of passengers travelling with the airline, along with a substantial increase with its cargo business.
Combining the performance figure of both Cathay Pacific and Cathay Dragon, the Group’s recently released report notes that a total of 2,950,532 passengers were carried last month. This equated to an increase of 0.9% compared to the same period last year.
Additionally, the Group reported that passenger load factor increased by 0.3 percentage points to reach 81.6%. At the same time capacity, which is measured in available seat kilometres (ASKs) increased by 3.8%. In the last 10 months of 2018, Cathay Pacific Group notes that the number of passengers increased by 1.9% and capacity also grew by 3.1%
Ronald Lam, director of Commercial and Cargo at Cathay Pacific said: “Overall passenger revenue growth was marginally ahead of capacity growth in October. Passenger volumes were robust, particularly in our First and Business cabins where we saw strong load factors. However, yield in Economy Class continued to come under pressure due to unfavourable currency trends and an increased mix of lower fares.”
In terms of cargo, the two carriers reportedly carried 192,522 tonnes of cargo and mail over October, which equates to an increase of 6.5% as compared to the same period last year. Additionally, the cargo and mail load factor rose by 1.1 percentage points to reach 70.4%.
The group also noted that capacity, measured in available freight tonne kilometres (AFTKs), increased by 3.8%, while cargo and mail revenue freight tonne kilometres (RFTKs) increased by 5.4%. Examining the growth of tonnage across the past 10 months of 2018, the report showed that tonnage rose by 6.4% against a 3.1% increase in capacity. An increase of 6% in RFTKs was also noted.
“Overall cargo revenue performed very well during the month, with revenue growth well ahead of capacity growth. Demand was strong across the network, especially for new consumer products,” added Lam.
“A number of stations across Southeast Asia, Northeast Asia and the Indian sub-continent established new cargo revenue records. We expect this momentum to carry over into November, although we continue to closely monitor external factors that are having an impact on global trade flows.”