Cathay Pacific’s Comprehensive Traffic Report for October 2024
Hong Kong-based Cathay Pacific has recently shared its traffic statistics for October 2024, a significant month that marked the first instance this year of the airline surpassing 10,000 passenger and cargo flight sectors. The airline proudly transported a total of 2,014,105 passengers, reflecting a 19.6% increase compared to October 2023. This uptick in passenger numbers contributed to a 19.1% rise in revenue passenger kilometers (RPKs), although the network load factor slightly dipped by 1.6 percentage points to 83.1%. This was primarily due to an expansion in available seat kilometers (ASKs) by 21.3% year-on-year.
Lavinia Lau, Chief Customer and Commercial Officer, highlighted the robust demand driving these numbers. “October was another strong month for our travel business, with significant passenger influx for both leisure and business purposes,” she noted. Lau detailed that the holiday seasons, including the National Day ‘Golden Week’ and the Chung Yeung Festival, played pivotal roles, boosting leisure travel significantly, particularly to destinations across Southeast Asia, Northeast Asia, and Europe. Japan emerged as a favored destination. Concurrently, business travel was buoyed by various international conferences and events in Hong Kong and the nearby Canton Fair in Guangzhou.
Introduction of New Routes and Services
The month also celebrated the inaugural non-stop passenger service between Hong Kong and Riyadh, which received a warm reception due to high demand from Hong Kong, the Chinese Mainland, Saudi Arabia, and Indonesia. “This service has opened new avenues for passenger convenience and business opportunities,” Lau added, underscoring the strategic expansion of their network.
Cargo Performance Enhancement
The cargo division also saw significant growth, with 142,323 tonnes of cargo transported in October 2024, marking a 14.3% increase from the previous year. The cargo revenue tonne kilometers (RFTKs) rose by 9.8% year-on-year. This growth was attributed to a robust peak season and a 7% increase in tonnage from the previous month. “Our cargo operations have been exceptionally strong, driven by demand across our extensive network, particularly from the Americas,” Lau explained. She also noted that specialized services like Cathay Expert and Cathay Priority saw increased usage due to the high demand for machinery shipments and urgent inventory replenishments.
Strategic Outlook and New Developments
Looking towards the future, Lau anticipates a bustling Christmas travel season, with Japan expected to remain a popular destination. She also forecasts significant inbound traffic from North America and Europe. The upcoming seasonal service between Hong Kong and Cairns, set to commence on December 17, 2024, along with the resumption of services to Hyderabad and the introduction of new routes by HK Express, Cathay’s low-cost subsidiary, are expected to further bolster passenger numbers. “Our strategic expansions and enhancements in service offerings are poised to meet the evolving needs of our global clientele,” Lau concluded.
As Cathay Pacific continues to navigate through the recovery phase post-pandemic, its strategic initiatives and robust traffic performance illustrate a promising trajectory towards growth and expansion in the global aviation market.