Cathay Pacific pax numbers up 1% and cargo up 2% in Oct-2012, yield remains under pressure

Cathay Pacific reports (15-Nov-2012) the following consolidated traffic highlights in Oct-2012:

• Passenger numbers: 2.4 million, +1.0% year-on-year;
• Passenger traffic (RPKs): -5.4%;
  • China: +1.5%;
  • Northeast Asia: +0.2%;
  • Southeast Asia: +11.4%;
  • India, Middle East, Pakistan & Sri Lanka: -2.9%;
  • South West Pacific & South Africa: -9.2%;
  • North America: -13.1%;
  • Europe: -9.0%;
• Passenger load factor: 78.3%, -1.8 ppts;
• Cargo volume: 138,608 tonnes, +1.9%;
• Cargo capacity: +0.5%;
• Cargo load factor: 64%, -2.2 ppts;
• Flights: 5923, +7.6%. [more - original PR]

Cathay Pacific: "The pick-up in demand in premium cabins was slow last month. Passenger demand in the Economy cabin held up reasonably well for long-haul flights but was soft in the region. Yield remained under pressure in a highly competitive environment," James Tong, GM revenue management. Source: Company statement, 15-Nov-2012.

Cathay Pacific: "We saw a small uptick in demand in October, driven by the launch of a number of new hi-tech consumer products out of key manufacturing centres in the region. Following a lull in demand over the long National Day holiday period in Mainland China, we were therefore able to operate close to a full freighter schedule by the end of the month. However, in the longer term, demand from Asia to Europe will continue to be affected by the economic fragility in a number of euro-zone countries," James Woodrow, GM cargo sales and marketing. Source: Company statement, 15-Nov-2012.