Cathay Pacific ends 2009 with improved load factor and yield

Cathay Pacific passenger numbers up 5% - combined traffic highlights:

• Dec-2009:
  • Passenger numbers: 2.2 million, +5.0% year-on-year;
  • Passenger traffic (RPKs): +4.0%;
    • China: +15.1%;
    • Northeast Asia: +3.5%;
    • Southeast Asia & Middle East: +10.9%;
    • Europe: -2.3%;
    • Southwest Pacific & South Africa: +0.3%;
    • North America: +3.0%;
  • Passenger load factor: 83.9%, +4.9 ppts;
  • Cargo volume: 144,000 tonnes, +25.0%;
• 12 months ended 31-Dec-2009:
  • Passenger numbers: 24.6 million, -1.6%;
  • Passenger traffic (RPKs): -1.7%;
    • China: +8.1%;
    • Northeast Asia: -10.1%;
    • Southeast Asia & Middle East: +8.6%;
    • Europe: +2.1%;
    • Southwest Pacific & South Africa: +6.5%;
    • North America: -14.1%;
  • Passenger load factor: 80.5%, +1.7 ppt;
  • Cargo volume: 1.5 million tonnes, -7.1%. [more]

Cathay Pacific: "2009 ended well, with stronger passenger demand leading to an improved load factor and yield at the highest level of the year. The encouraging result was driven by extracting better quality demand in our Economy cabins, and a continuation of a gradual rise in volume from premium passengers compared to the lows seen earlier in the year. For the full year, with a 3.7% reduction in capacity, the load factor grew to 80.5%, a record in recent years, while the total numbers of passengers registered only a modest decline. The core problem has been the precipitous drop in yields due to the premium demand collapse and intense pricing pressures in the economy cabins," Tom Owen, General Manager Revenue Management. Source: Cathay Pacific, 12-Jan-2010.

Cathay Pacific: "[Cargo] demand was very strong in December, with the backlog of freight in the key Hong Kong and Shanghai markets helping to stretch out the peak. December's load factor was the highest of the year, in part due to the capacity reduction, which helped to push up yield. It was pleasing to see the year end strongly and we expect to see demand remain fairly robust in the buildup to Chinese New Year," Titus Diu, General Manager Cargo Sales & Marketing. Source: Cathay Pacific, 12-Jan-2010.