Summary
- Cathay Pacific has reported impressive performance results for August 2023, showing a powerful recovery after a difficult pandemic period.
- The airline carried over 10 million passengers in the primary eight months of 2023, with a remarkable 603% increase in passengers for August in comparison with the identical month last yr.
- Cargo operations also saw success, with an 11.5% increase in cargo tonnage and positive growth in e-commerce shipments.
Cathay Pacific has reported impressive performance results for August 2023, cementing its position as an airline bouncing back well after a torrid pandemic experience.
An airline on the rise once more
As possibly certainly one of the world’s major airlines most affected by the COVID-19 pandemic, Cathay Pacific has reported impressive performance figures for August, further evidencing that the airline is on a pathway toward a powerful recovery.
Announcing its latest operational performance results today, the Hong Kong-based carrier has also reported that it surpassed the milestone of carrying greater than 10 million passengers in the primary eight months of 2023.
Photo: Markus Mainka/Shutterstock.
The airline carried a complete of 1,784,980 passengers within the month of August alone, which represents a staggering increase of 603% over the identical month last yr. The carrier’s network passenger load factor has also increased by 19.4% to a good 88%.
Continuing the upward trend, August’s revenue passenger kilometers (RPKs) increased 342.8% yr on yr, while the airline’s total capability, measured in available seat kilometers (ASKs), increased by 244.9% over August 2022.
In the primary eight months of 2023, the airline’s passengers increased by 1,302% against a 633.1% increase in capability and an 876.7% increase in RPKs, compared with the identical period for 2022.
What the airline has to say
By any measure, these latest results are remarkable for an airline that saw its operations decimated by the pandemic, further exacerbated by the delayed lifting of travel restrictions in its key markets of China and, indeed, in its own backyard, Hong Kong.
Photo: Airbus
Speaking in regards to the airline’s latest performance results, the airline’s Chief Customer and Industrial Officer, Lavinia Lau, said,
“Travel demand remained strong as we entered the second month of the normal peak summer season in August. We continued to extend our flight frequencies to cater for the strong demand. Our newly resumed flights serving Johannesburg received a really positive response, particularly amongst business and leisure travelers flying to Hong Kong and beyond.”
Ms Lau continued,
“In the primary half of the month, we saw consistently high demand for leisure travel from Hong Kong and the remainder of the Greater Bay Area to numerous short-haul destinations.
We also saw increased demand for outbound travel from Japan to Hong Kong and onward destinations in Asia and Europe in mid-August, coinciding with the Obon holiday period in Japan.
Meanwhile within the latter a part of the month, there was a notable increase in student travel to Canada, the US and the UK from Hong Kong and the Chinese Mainland ahead of the beginning of the brand new school yr.”
Cargo having fun with similar success
When it comes to air freight, the airline carried 116,919 tonnes of cargo last month, a rise of 11.5% compared with August 2022. The month’s cargo revenue tonne kilometers (RFTKs) increased 13.2% yr on yr.
Photo: Cathay Pacific
While the cargo load factor decreased by 8.2% to 58.8%, capability, measured in available cargo tonne kilometers (AFTKs), increased by 29% yr on yr.
In the primary eight months of 2023, the quantity of freight carried (when it comes to tonnage) increased by 20.8% against an 87.8% increase in cargo capability, representing a 60.5% increase in RFTKs, compared with the identical period for 2022.
Photo: Vincenzo Pace / Easy Flying
Speaking specifically in regards to the recovery of the airline’s cargo operations, Ms. Lau said,
“Turning to our cargo business, August saw similar levels of demand and tonnage carried as July, as we continued through the traditionally quieter season for air cargo. As has been the case for a lot of months now, e-commerce stays a shiny spot for the business with tonnage continuing to see positive growth.”
Looking ahead on the cargo side of the business, Ms. Lau continued,
“For cargo, September marks the beginning of the normal peak period and we’re seeing demand starting to select up well as businesses plan ahead for consumer sales events similar to ‘Singles’ Day’ within the Chinese Mainland and ‘Black Friday’ in long-haul markets, in addition to recent consumer product launches which might be on the horizon.”
The longer term looks shiny for the ‘Brushwing’ airline
Seemingly having weathered the very worst of the pandemic storm, Cathay Pacific could be very much an airline heading back in the proper direction once more.
In recent weeks, the airline has made some significant announcements reinforcing the message that it’s heading in the right direction to regain its pre-pandemic position as certainly one of Asia’s leading carriers.
Photo: Cathay Pacific
In July, Easy Flying reported that the carrier had enjoyed a profitable first half of 2023 and rewarded its beleaguered employees and shareholders with a share of the profits.
Meanwhile, in August. the corporate announced plans to expand its fleet and exercised its purchase rights to purchase an extra 32 Airbus A320neo family aircraft.
The airline also unveiled ambitious plans to reinvent the business class offering on its Boeing 777-300ER fleet and has announced its intention to resume long-haul services to Christchurch, Latest Zealand, and Chennai, India.
Photo: EQ Roy I Shutterstock
Speaking in regards to the immediate way forward for Cathay Pacific, Ms. Lau stated,
“Looking ahead first at our travel business, continued demand for student travel to the UK particularly, will provide boost in September, while overall the outlook for the remainder of 2023 looks promising.
We proceed so as to add more flights for our customers, particularly to and from the Chinese Mainland, where we’re currently operating about 170 return flights per week to 16 airports in 15 cities.
We were also excited to announce earlier this month that our Colombo and Chennai services shall be resuming in February 2024 as we proceed to bring back more destinations for our customers.”
Having seen each passenger numbers and profits slashed spectacularly resulting from the pandemic, Cathay Pacific’s recovery is shaping as much as be equally remarkable.
With recent routes, recent aircraft, and recent onboard products coming down the track, there’s much to feel optimistic about on the airline’s headquarters after a turbulent spell.
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