Cathay Pacific Group has released its January traffic figures for both its Cathay Pacific and Cathay Dragon subsidiaries. As per the combined results, the group is reporting an increase in the number of passengers carried, while cargo and mail saw a sizeable decrease.
According to its report, Cathay Pacific and Cathay Dragon carried a total of 3,127,437 passengers in January, which represented an increase of 7.4% compared to January 2018. Additionally, the group reports that the passenger load factor increased to 86.1%, while capacity increased by 7.1%
In terms of cargo, the carriers reportedly carried 166,735 tonnes of cargo and mail over January, which equated to a 3.4% decrease compared to the same point last year. Cathay Pacific Group also noted that the two airlines’ cargo and mail load factor dropped to 61.6%.
Finally, the report shared that capacity in cargo increased slightly by 0.8%, while cargo and mail revenue freight tonne kilometres (RFTKs) decreased by 5.2%.
Commenting on the performance, Cathay Pacific Director Commercial and Cargo Ronald Lam said: “Chinese New Year this year was earlier than last, leading to a slight distortion in both passenger and cargo revenue for January and February.
“Passenger revenue performed well with positive year-on-year growth in terms of load factor and yield. The robust Business Class demand of late 2018 continued into January, while we also saw improved volumes in Economy Class, driven by pre-Chinese New Year traffic from Hong Kong and mainland China. Our new route to Tokushima enjoyed a strong start to the month.
“Cargo uplift gradually picked up before Chinese New Year but the pre-holiday rush was not as strong as last year. As a result, our cargo revenue recorded small negative year-on-year growth in January. Some short-term capacity rationalisation was made to better match demand.”