Cathay Pacific releases August traffic figures
The airline carried 1,415,516 passengers in August, or an 11.6 percent increase year-on-year, and 94,522 tonnes of cargo, 22.1 percent up on August a year ago. Higher fuel costs weighed heavy on both passenger and cargo operations.
August is a peak month for summer leisure travel, yet year-on-year passenger growth dipped below a corresponding 11.9 percent increase in capacity and did not beat it as it has for most of the year.
There was growth in cargo transhipment tonnage but also a spike in the number of cargo charters out of Hong Kong. Greater freighter capacity in the market also reduced inbound loads from Europe and the United States.
The average passenger and cargo load factor in August was 81.8 percent and 64.3 percent respectively.
Cathay Pacific General Manager Revenue Management, Sales & Distribution Ian Shiu said:
"August's figures were a little disappointing as we did not manage to break any summer passenger records even with our extra available capacity. Still, the outlook for bookings in September is good."
Cathay Pacific Director & General Manager Cargo Ron Mathison said: "August’s figures were in some ways below expectations as high transhipment tonnage growth masked a weaker performance in exports from southern China. Rates are under pressure as a result of excess capacity being deployed into China and Hong Kong and we are concerned about the impact of high fuel prices on demand."