As global air travel continues to rebound from the setbacks of the pandemic, Hong Kong-based airline Cathay Pacific shows encouraging signs of recovery in its recent traffic report for May 2023. These figures highlight the airline’s progress as it rebuilds its flight connectivity at the Hong Kong international aviation hub.
Soaring Passenger and Cargo Numbers
In May 2023, Cathay Pacific reported a remarkable increase in the number of passengers carried, soaring to 1,417,906, marking an astonishing rise of 2,345% compared to the same period in 2022. Moreover, the airline’s revenue passenger kilometers (RPKs) spiked by 1,664% year on year, while passenger load factor ascended by 24.7 percentage points to 85.1%. This stellar performance extends to the first five months of 2023, with the number of passengers carried increasing by 3,281% against a 1,786% increase in capacity and a 3,062% increase in RPKs, compared to the same period in 2022.
On the cargo side, the airline carried 109,834 tonnes in May, indicating an 18.8% uptick compared to May 2022. Despite the decline in cargo load factor to 61.5%, the overall cargo revenue tonne kilometers (RFTKs) saw a considerable 73.4% year-on-year increase. The upward trend continues in the first five months of 2023, with the tonnage surging by 28.2% against a 154.6% increase in capacity and a 107.2% increase in RFTKs, as compared with the same period in 2022.
Comment from the Executive
Lavinia Lau, Cathay Pacific’s Chief Customer and Commercial Officer, spoke positively about the airline’s performance, emphasizing the steady increase in passenger flight capacity and the introduction of more frequencies to sought-after destinations in the US, South Asia, and Japan.
“We saw demand recover after the Easter holiday peak, and it surged again over the Buddha’s Birthday holiday weekend towards the end of May. Travel to Japan and Thailand was particularly popular, and transit traffic via the Hong Kong hub showed promising demand to and from the Chinese Mainland,” Lau said.
Despite the relative stagnation in the cargo market, due to high-tech demand and new consumer product shipments underperforming due to high inventory levels, Lau noted that e-commerce remained active. Moreover, aircraft engine volumes improved as passenger services resumed.
Looking Ahead
Cathay Pacific anticipates a boost in passenger numbers in the coming summer season due to students returning to Hong Kong after the school term ends. The airline also plans to reintroduce the seasonal Christchurch service from December 16, 2023, through February 29, 2024, after earlier announcements of service resumption to Johannesburg and Chicago.
In recognition of their dedication to the customer experience, Cathay Pacific bagged the award for World’s Best Inflight Entertainment at the 2023 World Airline Awards organized by Skytrax. This acknowledgment, in addition to their Top 10 ranking on AirlineRatings.com, is indeed a significant morale boost for the airline as it continues to aim for premium customer experience.
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