Cathay Pacific pax up 2% and cargo up 14% in Mar-2014, yield under pressure in all classes

Cathay Pacific reports (15-Apr-2014) the following traffic highlights in Mar-2014:

• Passenger numbers: 2.6 million, +2.0% year-on-year;
• Passenger traffic (RPKs): +4.3%;
• • China: +0.7%;
  • Northeast Asia: +4.8%;
  • Southeast Asia: -0.3%;
  • India, Middle East, Pakistan & Sri Lanka: +0.9%;
  • South West Pacific & South Africa: +1.9%;
  • North America: +16.7%;
  • Europe: -5.0%;
• Passenger load factor: 82.3%, -1.1 ppts;
• Capacity (ASKs): +5.7%;
• Cargo volume: 155,352 tons, +13.8%;
• Cargo load factor: 66.7%, +0.3 ppt;
• Flights: 6192, +4.2%. [more - original PR]

Cathay Pacific: "We saw a significant increase in capacity in March with new services beginning to Newark in the USA and Doha in the Middle East. The number of passengers we carried saw a year-on-year increase but the picture was distorted by the Easter peak beginning in March in 2013. This year, March is sandwiched in between holiday peaks in February and April, which had an impact on leisure travel in the region. Demand in the premium cabins was in line with expectations, though yield was under pressure in all classes of travel," Source: Company statement, 15-Apr-2014," James Tong, Cathay Pacific General Manager Revenue Management. Source: Company statement, 14-Apr-2014.