Cathay Pacific registers strong increase in passenger numbers and cargo demand in September

Cathay Pacific has released its traffic figures for September 2023, demonstrating strong travel sentiment and improved cargo demand. In September, the airline carried 1,542,144 passengers, marking a 480.1% increase compared to September 2022. Passenger load factor rose by 11.2 percentage points to 83.7%, and cargo volume increased by 15.3% year on year, with a 16.9% increase in cargo revenue tonne-kilometres.

The Chief Customer and Commercial Officer, Lavinia Lau, noted an increase in student traffic, particularly to the UK, and strong demand during the Mid-Autumn Festival and National Day holidays. The Asian Games also drove demand to Hangzhou. Additionally, the airline saw increased demand for conferences and exhibitions, stimulating premium cabin travel.

Looking ahead, Cathay Pacific plans to increase capacity for travellers and expects cargo demand to strengthen as the year-end approaches. They have resumed passenger services to Chicago and are prepared to capture demand, including connecting traffic via their Hong Kong hub.

In a press release, Cathay Pacific also mentioned shareholder approval for a proposed capital reduction, enabling the Group to buy back preference shares held by the Hong Kong SAR Government. The airline expressed gratitude for the continued support received during and after the pandemic.