Cathay Pacific pax down 2% with 83% load factor in Feb-2017, cargo volume up 17%

Cathay Pacific reported (17-Mar-2017) the following traffic highlights in Feb-2017:

• Passenger numbers: 2.7 million, -2.4% year-on-year;
• Passenger traffic (RPKs): -1.9%;
• • Europe: +7.2%;
  • China: -0.4%;
  • Northeast Asia: -0.4%;
  • South West Pacific & South Africa: -2.5%;
  • India, Middle East, Pakistan & Sri Lanka: -3.3%;
  • Southeast Asia: -5.2%;
  • North America: -6.3%;
• Passenger load factor: 83.4%, +1.0ppt;
• Capacity (ASKs): -3.0%;
• Cargo volume: 137,674 tonnes, +17.4%;
• Cargo load factor: 64.2%, +6.2ppts;
• Flights: 6113, -3.6%. [more - original PR]

Cathay Pacific: "As expected, the first half of February saw volumes significantly affected by the Chinese New Year holiday. However, trade in the region was quick to rebound from the middle of the month, which was soon followed by a pick-up in long-haul trade, leading to a full recovery by month-end. It was encouraging to see that inbound loads from North America and Europe throughout - albeit on a reduced operating capacity. Taking into account the changes in the Chinese New Year holiday period this year, we managed solid tonnage growth; a reflection of the overall strengthening of the global air cargo demand. We predict March to be a busy month with more project shipments in the pipeline and the launch of a number of new consumer products. On 1 February, we commented our metal-neutral capacity sharing partnership with Lufthansa Cargo between Hong Kong and Europe." Source: Company statement, 17-Mar-2017.