Cathay Pacific pax and cargo down in Jul-2012, yields remain under pressure across all classes

Cathay Pacific reports (15-Aug-2012) the following traffic highlights in Jul-2012:

• Passenger numbers: 2.5 million, -0.7% year-on-year;
• Passenger traffic (RPKs): -3.6%;
  • China: +1.3%;
  • Northeast Asia: +12.2%;
  • Southeast Asia: -1.4%;
  • India, Middle East, Pakistan and Sri Lanka: -17.4%;
  • South West Pacific and South Africa: -11.8%;
  • North America: -0.6%;
  • Europe: -7.5%;
• Passenger load factor: 81.1%, -5.0 ppts;
• Cargo volume: 125,343 tonnes, -10.5%;
• Cargo load factor: 64.7%, -1.9 ppts;
• Flights: 5813, +6.0%. [more - original PR]

Cathay Pacific Cargo: "There was little change in the situation seen in previous months, with continued soft demand out of our two main markets, Hong Kong and Mainland China. We don't anticipate that situation to change in August, so our strategy will be to continue to pare back capacity in line with demand. Our sixth Boeing 747-8 Freighter arrived in July and is helping to boost the operating economics on key long-haul routes. Two more of the aircraft will arrive before the end of 2012," James Woodrow, GM cargo sales and marketing. Source: Company statement, 14-Aug-2012.