Cathay Pacific and Cathay Dragon carried a
of 2,740,830 passengers in October 2019 – a drop of 7.1% when compared to
the same month last year.
The passenger load factor decreased by 4.0 percentage
points to 77.6%, while capacity, measured in available seat kilometres (ASKs), rose by 2.4%.
In the first 10 months of 2019,
the number of passengers carried grew by 0.5% and capacity
increased by 6.4%, as compared to the same period in 2018.
“It continues to be a challenging time for both the
Cathay Pacific Group and for Hong Kong,” said Ronald Lam,
Cathay Pacific Group Chief Customer and Commercial Officer. “In response to weakened
travel sentiment to and from Hong Kong, we have so far reduced our
passenger flight capacity against our original schedule by 2-4%
between August and October, and 6-7% for November and December. In October, demand for travel into Hong Kong remained weak with
our inbound passenger traffic seeing a year-on-year decline of
35%, consistent with the trend seen in both August and September.
The drop in outbound Hong Kong traffic was 13% in October, again
similar to the trend over the past two months. Transit traffic via
Hong Kong remained relatively less affected. Our passenger load
factor dropped by 4 percentage points to 77.6% compared to the
same time last year.
“Apart from reduced traffic volume and load
factor, overall passenger yield also continued to be under
significant pressure. Mainland China routes in particular felt
significant pressure with weak travel sentiment to Hong Kong by
mainland tourists. Demand for premium class travel was also
sluggish with passenger volume seeing a double-digit dip in
October, traditionally a peak month for business travel. Japan
routes were the star in our network – the Rugby World Cup
generated good demand, especially from England and South Africa
when both teams advanced to the final. Looking ahead, our
advanced bookings continue to show weakness in both inbound and
outbound Hong Kong traffic for the rest of 2019, partly offset by
moderately increased transit passengers via Hong Kong.”
two airlines carried 183,119 tonnes of cargo and mail last month,
a drop of 4.9% compared to the same month last year.
The cargo and
mail load factor fell by 2.4 percentage points to 68.0%. Capacity,
measured in available freight tonne kilometres (AFTKs), was down
by 2.5% while cargo and mail revenue freight tonne kilometres
(RFTKs) dropped by 5.9%.
In the first 10 months of 2019, the
tonnage fell by 6.6% against a 0.4% increase in capacity and a
6.9% decrease in RFTKs, as compared to the same period for 2018.
volume continued to improve as the market entered into its peak
season of the year, with demand picking up after the National Day
holidays in October,” said Mr. Lam. “This began with an uptick in raw materials
and machinery parts into mainland China, followed by encouraging
exports from mainland China and Hong Kong, especially into
trans-Pacific and European markets. Month-on-month tonnage growth
was recorded across all sales territories. We anticipate this
positive momentum continuing through mid- December. However,
overall cargo yield remained significantly below that of the same
time last year. Overall we foresee a challenging remainder of
2019 for our airlines. We expect our second-half financial results
will be significantly below those of our first-half. The
short-term outlook remains challenging and uncertain.”