TravelNewsAsia.com
Tue, 17 March 2020

Cathay Pacific Reports February Traffic; Will Reduce Capacity by 90%

Cathay Pacific and Cathay Dragon carried a combined total of 1,008,644 passengers in February 2020, or 4,735,301,000 RPKs (revenue passenger kilometres), a decrease of 54.1% when compared to February 2019.

Passenger load factor decreased by 28.6 percentage points to 53.1%, while capacity, measured in available seat kilometres (ASKs), decreased by 29.3%.

The two airlines carried 118,711 tonnes of cargo and mail in February, or 698,019,000 RFTKs (revenue freight tonne kilometres), a decrease of 6.9% when compared to the same month last year.

The cargo and mail load factor increased by 5.8 percentage points to 66.6%, while capacity, measured in available freight tonne kilometres (AFTKs), was down by 15.1%.

Cathay Pacific and Cathay Dragon carried a combined total of 1,008,644 passengers in February 2020, or 4,735,301,000 RPKs (revenue passenger kilometres), a decrease of 54.1% when compared to February 2019 Click to enlarge.

Cathay Pacific Group Chief Customer and Commercial Officer Ronald Lam said, We are facing an unprecedented challenge as the COVID19 pandemic continues to cause widespread disruption to our operation and business. In February alone, we made a significant unaudited loss of more than HK$2 billion at the full-service airline level (Cathay Pacific and Cathay Dragon). The situation has further deteriorated since February. We have already announced around 65% passenger flight capacity reduction for March. Governments around the world have since introduced more travel restrictions, with the most recent ones starting to affect our major long-haul markets including Europe, the United States and Southwest Pacific. Given the expected further drop in travel demand we are planning to only operate a bare skeleton passenger flight schedule for April, which represents up to 90% capacity reduction. If we do not see a relaxation of travel restrictions in the near future, we expect the same arrangement will have to continue into May. While our freighter capacity remains intact, the reduction of our passenger flights has had a significant impact on our overall cargo capacity as well as our ability to carry cargo to destinations only served by our passenger flights. However, we remain flexible in deploying additional cargo capacity, including mounting additional freighter flights as well as cargo-only passenger flights.

Mr. Lam added that, In February, the first two weeks were poor and the situation deteriorated even further in the latter half of the month. Our regional routes, most notably mainland China, Taiwan, Korea and Philippines, saw the most significant drops in passenger volume. Overall passenger numbers were down 64% in February when compared with last year. On a typical day following the Chinese New Year peak we would normally carry around 90,000 passengers; towards the end of February, that figure dropped to below 20,000. Our load factors dipped to 53.1% with yield also significantly impacted.

Outlook

The scale of the challenge we are currently facing is unprecedented and no one can predict when conditions will improve. Our advance passenger bookings show no clear signs of recovery at this stage, and the gap in bookings compared to 2019 continues to widen. We already made it known last week that a substantial loss in the first half of this year is expected. Nevertheless, Cathay Pacific is a resilient company and we remain confident in the future of the company, of Hong Kong as an aviation hub, and in our ability to thrive in this region over the long term, Mr. Lam added.

See latest Travel News, Interviews, Podcasts and other news regarding: Cathay Pacific, COVID19, Hong Kong.

Headlines: Ritz-Carlton Opens Luxury Resort in Nikko, Japan  Air New Zealand Completes Refurb of Domestic Lounge in Auckland  Hong Kong Disneyland Park Closes; Hotels Remain Open  Malaysia Airlines Starts Providing Passengers with Hygiene Kits  HK Government Names Two Observers for Board of Cathay Pacific  Maldives Reopens for Tourism  Travelport Launches COVID19 Smartpoint Plugin  Air France Aiming to Serve Close to 170 Destinations by End of Summer  Japan Becomes First International Operator of V-22 Osprey  Thai AirAsia to Launch Two New Routes from Hua Hin  Asia Pacific Airlines Hardest Hit by COVID19 Crisis  Four Seasons Reopens Global Flagship Hotel  Thai Vietjet Launches Lunchtime Promo with 500,000 Tickets from THB 50++  Malaysia and Japan Airlines to Cooperate on Flights from 25 July  Condor to Deploy eWAS Pilot and eWAS Dispatch  Airbus Forms Team Nightjar as Australia Looks for Special Ops Helicopters  US Air Force to Replace F-15C/Ds with F-15EX Fighter Jets  Etihad to Operate Special Passenger Flights to Six Destinations in India  BA Has Repatriated Nearly 40,000 People on 134 Flights Since 29 March  Bombardier Transportation Appoints Rajeev Joisar as MD for India  Dassault Falcon 6X on Track for First Flight in Early 2021  IATA Calls on IEA to Prioritise Investment in Sustainable Aviation Fuel  Smiths Detection Producing Portable COVID19 Triple Antibody Test Device  Ansat Helicopter Simulator Receives Certification from TsAGI  Delta Cargo Partners PayCargo  Boeing Delivers Last of 22 Apache Attack Helicopters to Indian Air Force  Churning a Dream into Reality - Interview with CEO of Laos Buffalo Dairy  Kew Green / Siamese Asset JV to Open 7 Hotels in Bangkok in 2021  Marriott Expands AC Hotels Brand to Japan  Mandarin Oriental Signs Hotel and Residences in Vienna, Austria  Sabre Signs SynXis Platform Agreement with Japan's Resorttrust, Inc  Accor Opens 39th Pullman Hotel in Greater China  Banyan Tree Opens Third Hotel in Mexico  Bombardier Delivers 350th Challenger 350 Business Jet  Elbit Systems Adds Mini-UAS to Seagull Unmanned Surface Vessel  Thai Airways Extends Suspension of Flights to 1 September  Sabre Names Members of New Executive Leadership Team  Air Canada Explores Rapid COVID19 Testing with Spartan Bioscience  ATR Appoints Sadika Moussaoui as Head of Human Resources  Airbus Reports Increase in Commercial Aircraft Deliveries in June  Smiths Detection Signs Kuwait T2 Contract  Four Seasons Atlanta Appoints Nancy Chacon as GM  Marc Rivest Appointed GM of Bombardier's Service Center in Dallas  Qantas to Bid Farewell to Boeing 747 with Three Special Flights  Korean Air to Sell Inflight Catering and Duty-Free Business  New IATA Survey Highlights Decreasing Desire for Air Travel  Air France to Cut Over 7,500 Jobs  Philippine Airlines Re-Routing Manila Passengers to Cebu  AirAsia Reports Q1 Net Loss of RM 953 Million  Etihad Airways to Expand Network as UAE Travel Restrictions Eased  Smiths Detection to Expand Biological Capabilities with Acquisition  Embraer Upgrades Cabins of Praetor 500 and 600 Business Jets  Air New Zealand Puts Hold on New Inbound International Bookings  Indonesia's Smart Cakrawala Aviation Takes Delivery of First Helicopter  China Airlines Resumes Hot Meal Service on Flights of 3+ Hours  Lotte Signs Distribution Agreement with Sabre  ATR 42-600 a Test Flight Closer to Certification in China  MTCO Names 18 Finalists of Experience Mekong Showcase 2020  Smiths Detection Launches iCMORE Algorithms for Lithium Batteries  RAF Air Vice-Marshal (Ret) to Lead DSEI 2021 Aerospace Expansion  HK's Airport Authority Appoints Julian Lee as Executive Director - Finance  Singapore's Changi Airport Installing New Contactless Systems  United Airlines to Launch Singapore - Hong Kong - San Francisco Flights  Niel Golightly Resigns from Boeing Over 33-Year Old Article  Qatar Airways Giving All Passengers Free Protective Kit; New PPE for Crew  Airbus H160 Helicopter Receives Type Certification from EASA  Avis Targets Long-Term Rentals in Singapore with Flex Solution  IATA Welcomes ICAO's Decision on CORSIA  Embraer Delivers 1,600th E-Jet, an E190-E2 to Helvetic Airways  American Airlines to Significantly Reduce International Network  Thai Airways Appoints Chansin Treenuchagron as Acting President  Aviation: RPKs Down 91.3% in May  United Airlines to Operate Nearly 25,000 Flights in August  Three Executive Appointments at Delta Cargo  IATA Appoints Karen Clayton as General Counsel  Qatar Airways Resumed Flights to 11 Destinations on Wednesday  Elbit Systems to Supply Intelligence Suites to a Navy in SEA  Laos and Myanmar Unveil Domestic Tourism Strategy  Far East Takes Over Hotel in Ariake, Tokyo  Airbus to Reduce Workforce by Around 15,000 People  Air Cargo Down 20% in May, Capacity Down 34.7%  Remaining Rounds of HSBC World Rugby Sevens Series 2020 Cancelled  Emirates to Add Seven Cities to Expanding Network  Qatar Airways to Launch Thrice Weekly A350 Flights to Toronto, Canada  Air Canada Ends Service on 30 Domestic Regional Routes; Closes Eight Stations  COVID19: WHO Praises Japan, South Korea; Says Worst Still to Come  Hong Kong's Airport Authority Publishes Annual Report and Future Plans  Airbus Concludes Autonomous Taxi, Take-Off and Landing Project  Marriott Appoints Brian King as President - Caribbean and Latin America  Air Canada Stops Guaranteeing Adjacent Economy Class Seats are Empty  Bombardier Global 5500 Enters Service  Embraer Delivers First of its Enhanced Phenom 300E Aircraft  Airbus Delivers First of Eight A330 MRTTs Ordered by NATO MMF  Cape Panwa Hotel Phuket Raceweek 2020 Cancelled  Rémi Maillard Appointed President of Airbus India  Korean Air Chairman Gets His Hands Dirty Disinfecting Aircraft  United Airlines to Operate Shanghai Flights via Seoul  Thai Airways Operates Third Repatriation Flight from London Heathrow  Akbar Travels of India Expands Partnership with Sabre  Malaysia and Singapore in Talks Over Resumption of Cross-Border Travel  Morocco Orders 24 Boeing AH-64E Apache Helicopters  Belmond to Reopen Hotels in South East Asia - Interview with Iain Langridge  Qantas to Layoff Over 6,000 Staff and Ground 100 Aircraft for 12 Months  Thai AirAsia Launches Promotion to Boost Mid-Week Travel  Hi Air Orders Two ATR 72-500 Aircraft  Japan's National Police Agency Orders 5 Airbus Helicopters  IATA Urges Governments Not To Implement Quarantine Measures  Inmarsat's New Smart Pipe Technology to Feature on Boeing 777X  US Navy Takes Delivery of First CMV-22B for Fleet Operations  Hilton Signs Deal to Expand Home2 Suites Brand to China  COVID19 Interview with GM of Courtyard by Marriott Siem Reap, Ms. Ashley Lai  Grand Richmond Hotel in Nonthaburi Launches Quarantine Package  Thailand to Promote Domestic Tourism First  HD Videos and Interviews  Podcasts from HD Video Interviews  Travel Trade Shows in 2020 and 2021  High-Res Picture Galleries  Travel News Asia - Latest Travel Industry News 

Subscribe to our Latest Travel News Daily Email Free of Charge by simply entering your email address to the right. You can also receive the daily news service by WhatsApp, stay updated with our RSS Feed Free Travel News RSS Feed and even add the travel news to your website. Have questions? Please read our travel news FAQ.
     
Advertising
Advertising
Copyright © 1997-2020 TravelNewsAsia.com