Cathay Pacific pax up 11.9% in Jan-2012, another significant fall in cargo volume

Cathay Pacific reports (13-Feb-2012) the following traffic highlights in Jan-2012:

• Passenger numbers: 2.5 million, +11.9% year-on-year;
• Passenger traffic (RPKs): +9.5%;
  • China: +23%;
  • Northeast Asia: +10.0%;
  • Southeast Asia: +14.6%;
  • India, Middle East, Pakistan and Sri Lanka: -0.2%;
  • Europe: -2.8%;
  • South West Pacific and South Africa: +9.3%;
  • North America: +15.8%;
• Passenger load factor: 81.9%, +0.6 ppt;
• Cargo volume: 116,250 tonnes, -19.5%;
• Cargo load factor: 59.9%, -7.9 ppts;
• Flights: 5678, +6.9%. [more - original PR]

Cathay Pacific: "Year-on-year comparisons are distorted by the fact that the Chinese New Year holiday fell in January this year compared to early February in 2011. Passenger traffic over this year's holiday peak was particularly strong on the Mainland China, Korea and Southeast Asia routes, though long-haul routes also performed well due to the timing of the Lunar New Year break. However, declining yield in the Economy cabin remains an area of concern," James Tong, general manager revenue management. Source: Company statement, 13-Feb-2012.

Cathay Pacific: "Apart from a modest pre-Chinese New Year rush, the cargo markets were generally soft throughout January and were particularly weak during the holiday and post-holiday period as factories in Mainland China ceased operations. Our key markets remain soft and we have been cutting capacity aggressively to match demand on trunk routes to North America and Europe," James Woodrow, general manager cargo sales and marketing. Source: Company statement, 13-Feb-2012.