Cathay Pacific releases traffic figures for July 2023 showing substantial improvement

Cathay Pacific has released its July 2023 traffic figures, revealing significant improvements in both passenger and cargo operations compared to the same period last year. The Cathay Group, including HK Express, achieved a milestone by carrying over two million passengers in a single month for the first time since the pandemic. Specifically:

Passenger Operations:

• Cathay Pacific transported 1,744,374 passengers in July 2023, marking a substantial increase of 693.8% compared to July 2022.
• Revenue passenger kilometres (RPKs) rose by 421.6% year-on-year.
• Passenger load factor surged by 16 percentage points, reaching 89.3%, while available seat kilometres (ASKs) increased by 328.2% year-on-year.
• The passenger numbers for the first seven months of 2023 increased by 1,622%, outpacing the growth in capacity and RPKs from the same period in 2022.

Cargo Operations:

• Cathay Pacific carried 115,729 tonnes of cargo in July 2023, an increase of 14.9% from July 2022.
• Cargo revenue tonne kilometres (RFTKs) increased by 24.6% year-on-year.
• The cargo load factor slightly declined by 11.2 percentage points to 59.8%, while available cargo tonne kilometres (AFTKs) increased by 47.9% year-on-year.
• The cargo tonnage for the first seven months of 2023 increased by 22.4%, again exceeding the capacity and RFTKs growth from the same period in 2022.

Outlook:

• The company anticipates the strong travel demand observed in July to continue through August during the summer peak travel period.
• Cathay Group is rebuilding its capacity, aiming to achieve 70% coverage and serve 80 destinations by the end of the year, with a goal of reaching 100% by the end of 2024.
• The company expects cargo demand to pick up in the later part of the third quarter, entering the traditional peak period for air cargo.

This positive performance aligns with the Group’s ongoing efforts to restore its operations and connectivity, as well as enhance customer experiences, including the introduction of the new Business class experience called Aria Suite. Additionally, the Group has paid its latest dividend to the Hong Kong SAR Government as part of its financial commitments.