Cathay Pacific pax numbers up 3% with 82% load factor in Feb-2016, cargo volume down 10%

Cathay Pacific reported (15-Mar-2016) the following traffic highlights in Feb-2016:

• Passenger numbers: 2.7 million, +2.7% year-on-year;
• Passenger traffic (RPKs): +5.4%;
• • China: -3.0%;
  • Northeast Asia: -3.6%;
  • Southeast Asia: +9.1%;
  • India, Middle East, Pakistan & Sri Lanka: -4.9%;
  • South West Pacific & South Africa: +12.3%;
  • North America: +4.1%;
  • Europe: +14.1%;
• Passenger load factor: 82.4%, -2.5 ppts;
• Capacity (ASKs): +8.6%;
• Cargo volume: 117,299 tonnes, -10.1%;
• Cargo load factor: 58.0%, -7.5 ppts;
• Flights: 6338, +4.6. [more - original PR]

Cathay Pacific: "Airfreight demand dropped away sharply in the early part of the month as factories in Mainland China closed down for the Chinese New Year holiday. In comparison to the holiday period last year, demand was much slower in picking up after factories reopened, which led to a higher concentration of lower-yield cargo from Southeast Asia and India being uplifted onto our transpacific freighter flights. The sustained drop in fuel prices has led to older aircraft become more economically viable. The resulting overcapacity continues to put downward pressure on cargo yields." Source: Company statement, 15-Mar-2016.