Cathay Pacific releases excellent traffic figures for August 2023

Cathay Pacific has reported its traffic figures for August 2023, marking a significant milestone by carrying over 10 million passengers in the first eight months of the year. In August, the airline carried 1,784,980 passengers, a remarkable increase of 603% compared to August 2022.

Key metrics also showed substantial growth: revenue passenger kilometres (RPKs) increased by 342.8%, passenger load factor rose by 19.4 percentage points to 88%, and capacity measured in available seat kilometres (ASKs) increased by 244.9% year-on-year.

In the first eight months of 2023, the number of passengers carried increased by 1,302%, capacity increased by 633.1%, and RPKs increased by 876.7%, compared to the same period in 2022.

Regarding cargo, Cathay Pacific transported 116,919 tonnes in August 2023, representing an 11.5% increase compared to August 2022. Cargo revenue tonne kilometres (RFTKs) also increased by 13.2% year-on-year. However, the cargo load factor decreased by 8.2 percentage points to 58.8%, while available cargo tonne kilometres (AFTKs) increased by 29% year-on-year.

Chief Customer and Commercial Officer Lavinia Lau highlighted the strong travel demand, especially during the peak summer season. The airline responded by increasing flight frequencies, with resumed flights to Johannesburg receiving positive responses. Leisure travel demand from Hong Kong and the Greater Bay Area remained high, as did outbound travel from Japan. Additionally, there was a noticeable increase in student travel to Canada, the US, and the UK ahead of the new school year.

Looking ahead, Cathay Pacific expects continued strong demand for student travel to the UK in September, and the outlook for the rest of 2023 appears promising. The airline is adding more flights to meet customer needs, particularly to and from the Chinese Mainland. Furthermore, Cathay Pacific announced the resumption of Colombo and Chennai services in February 2024.

In the cargo sector, the airline anticipates increased demand in September as the traditional peak period begins, driven by consumer sales events and new product launches. E-commerce continues to be a bright spot for the cargo business, with positive tonnage growth.

Overall, Cathay Pacific is optimistic about its business outlook in both passenger travel and cargo for the remainder of the year.