Cathay Pacific pax and cargo volume up in Feb-2012, yield coming under pressure

Cathay Pacific reports (12-Mar-2012) the following traffic highlights in Feb-2012:

• Passenger numbers: 2.1 million, +4.0% year-on-year;
• Passenger traffic (RPKs): +4.9%;
  • China: +10.8%;
  • Northeast Asia: -5.8%;
  • Southeast Asia: +4.8%;
  • India, Middle East, Pakistan and Sri Lanka: +8.3%;
  • Europe: +0.8%;
  • South West Pacific and South Africa: -2.8%;
  • North America: +16.3%;
• Passenger load factor: 74.5%, -2.8 ppts;
• Cargo volume: 117,880 tonnes, +0.8%;
• Cargo load factor: 65.8%, -1.8 ppts;
• Flights: 5212, +9.1%. [more - original PR]

Cathay Pacific: "Chinese New Year fell in early February in 2011, so direct year-on-year comparisons are once again distorted. However, the February figures highlight the fact that the growth in passenger volumes is struggling to keep pace with the increase in capacity, while the decline in yield is becoming more apparent on all routes in Economy Class. Demand in premium cabins is holding up but again yield is coming under pressure," James Tong, general manager revenue management. Source: Company statement, 12-Mar-2012.