irasia.com – Cathay Pacific Airways Limited
Cathay Pacific Airways Limited
|For immediate release||September 16, 2022|
Cathay Pacific today released its traffic figures for August 2022. The airline’s traffic figures continued to reflect the positive impact of further adjustments to travel restrictions and quarantine requirements from the region’s government Hong Kong special, including the mandatory hotel quarantine arrangement for inbound travellers.
Cathay Pacific carried a total of 253,907 passengers last month, an increase of 87.6% from August 2021, but a decrease of 91.3% from pre-pandemic levels in August 2019. revenue passenger-kilometres (RPK) for the month increased by 82.7% year-on-year. year-on-year, but down 86.1% compared to August 2019. Load factor increased by 22.2 percentage points to 68.6%, while capacity, measured in available seat-kilometres (SSK), was up 23.5% year-on-year, but down 83.8%. % from August 2019 levels. In the first eight months of 2022, the number of passengers carried increased by 133.5% against a 1.6% increase in capacity and a 141.9% increase RPKs, compared to the same period of 2021.
The airline carried 104,851 tonnes of cargo last month, down 15.6% from August 2021 and down 35% from the same period in 2019. Cargo tonne-kilometres (RFTK ) of the month were down 23.3% year-over-year. , and decreased by 35.1% compared to August 2019. The freight load factor decreased by 10.7 percentage points to 67%, while capacity, measured in available freight tonne-kilometres (AFTK ), was down 11.1% year-on-year, and down 41.1% from August 2019. In the first eight months of 2022, tonnage was down 8% vs. a decline capacity of 25.4% and a 32.4% drop in RFTKs, compared to the same period of 2021.
Ronald Lam, Chief Customer and Commercial Officer, said, “We continued to see improved performance from our travel business in August. The average number of passengers per day increased further month-on-month and exceeded 8,000. was operating at about 16% of pre-pandemic levels, while the load factor remained high at almost 69% .
“Following the Hong Kong SAR government’s adjustment of the hotel quarantine agreement for travelers entering Hong Kong from August 12, we have observed an increase in inbound traffic to our home hub. This was particularly true for long-haul traffic from the United States, Canada and Europe.During this time, our capacity for passenger flights to mainland China remained limited, although we were able to resume passenger transportation to Zhengzhou, Qingdao and Xiamen in August.
“Student traffic from mainland China to the United States accounted for a significant portion of our passenger traffic last month. In addition to our existing services to New York, Los Angeles and San Francisco, we have resumed flights to Chicago and Boston in August for the first time this year to meet high demand. As a result, our US-bound flights managed 80% load factors. In addition to student traffic, our US routes were also boosted in the other direction by transit traffic to Southeast Asia, a result of greater connectivity through increased flight frequency.
“In terms of cargo, we operated a full cargo program in August, which was supported by an increase in passenger flights as well as regional cargo only flights. While our overall cargo flight capacity decreased by 11 % compared to the same period last year, this was due to the fact that we were operating a significant number of long-haul passenger-only cargo flights at this time.Overall, we operated 59% of our capacity pre-pandemic cargo flights in August Demand remained steady throughout the summer months, but we continued to make all preparations to ensure operations run smoothly as we enter peak cargo season .
“Supporting Cathay Pacific Group’s goal of net zero carbon emissions by 2050, we have extended our carbon offset program, Fly Greener, to our air cargo services. The program not only allows our cargo customers to calculate the carbon emissions of their shipments, but also allows them to purchase carbon offsets to support carbon offset projects. All selected projects are certified by the non-profit organization internationally recognized nonprofit, Gold Standard, to ensure that their carbon reductions and societal benefits are verified to meet their standards.
“Additionally, in an ongoing effort to improve the quality of our service delivery, we have introduced two new Cargo iQ milestone metrics – Freight Out of Warehouse (FOW) and Freight In Warehouse (FIW). These milestones additional ones will bring greater transparency to the global shipping journey, and are now operational at Cathay Pacific’s cargo terminal in Hong Kong, with plans in place to roll them out across our network in the near future.
“Looking forward, we welcome the adjustments made by the Hong Kong SAR government to the mandatory quarantine arrangements for local crew arriving in Hong Kong earlier this month. Although we will continue to add more flights as quickly as possible to strengthen the connectivity of the Hong Kong Aviation Hub network, it will still take time as we build operational readiness and undertake a substantial amount of aircraft training and reactivation.
“This, combined with other operational complexities, means that capacity can only be increased incrementally over a period of months. As such, we now expect by the end of the year to be able to operate approximately one-third of our pre-pandemic passenger flight capacity – approximately double the passenger flight capacity we operated in August – and approximately two-thirds of our pre-pandemic cargo flight capacity the pandemic. As the market and operating conditions improve further, we will strive to add more flights where possible.
“On the travel side, we expect demand to remain strong in the fourth quarter. Transit traffic between the Americas, Southeast Asia and India is expected to be strong, while traffic between Australia, New Zealand and other parts of our network should also increase.
“As more regional destinations such as Japan continue to adjust their inbound travel policies, we will continue to monitor demand and adjust our passenger flight capacity accordingly. We intend to add about 200 pairs of passenger flights in October, mainly to regional destinations such as Osaka, Seoul (Incheon), Bangkok, Kuala Lumpur and Manila, as well as to long-haul destinations such as Vancouver, Sydney and Melbourne.
“On freight, while anti-pandemic measures in mainland China may affect supply chains, it has been encouraging to see New Product Introductory (NPI) shipments begin in September, which bodes well. for the expected strong peak season. Accordingly, we will continue to maximize cargo capacity, supported by increased passenger services and regional cargo-only passenger flights. »
Cargo iQ is a non-profit membership group supported by the International Air Transport Association (IATA) comprised of major airlines, freight forwarders, ground handlers, trucking companies and IT providers who work together to bring standardization and transparency to air freight travel. As part of this, the Cargo iQ MOP, which has been approved by IATA as recommended industry practice, describes the standard end-to-end process for transporting air cargo from shipper to consignee.
Available Seat Kilometers (“ASK”)
Passenger seat capacity, measured in seats available for the carriage of passengers on each sector multiplied by the distance of the sector.
Available Ton Kilometers (“ATK”)
Overall capacity measured in tons available for the transport of passengers, excess baggage, freight on each sector multiplied by the distance of the sector.
Available freight tonne-kilometres (“AFTK”)
Freight capacity measured in tonnes available for freight transport on each sector multiplied by the distance of the sector.
Revenue Passenger Kilometers (“RPK”)
Number of passengers transported on each sector multiplied by the distance of the sector.
Revenue Tonne Kilometers (“RFTK”)
Amount of freight, measured in tons, transported on each sector multiplied by the distance of the sector.
|Passenger/cargo load factor =|
| Revenue passenger-kilometres/
Revenue revenue tonne-kilometres for freight
Available freight ton-kilometres
Source: Cathay Pacific Airways Limited
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