Cathay Pacific has been on a remarkable journey of recovery, as the Hong Kong-based airline’s March 2023 traffic figures reveal a passenger load factor surpassing 90%. Despite facing the devastating impacts of the pandemic and Hong Kong protests, the Cathay Pacific Group, which includes Cathay Pacific and HK Express, has reached 50% of pre-pandemic passenger flight capacity levels. As of the end of March, they cover more than 70 destinations, indicating a bright future for the airline.
A Closer Look at the Numbers
In March, Cathay Pacific carried a total of 1,322,180 passengers, marking a staggering 4,217% increase compared to March 2022. The month’s revenue passenger kilometers (RPKs) increased by 4,828% year-on-year. The airline’s passenger load factor rose by 44.8 percentage points to 90.4%, and the capacity, measured in available seat kilometers (ASKs), increased by 2,384% year-on-year. Comparing the first three months of 2023 to the same period in 2022, the number of passengers carried rose by 3,907%, with a 2,174% increase in capacity and a 4,432% increase in RPKs.
Continued Expansion and New Destinations
Cathay Pacific’s Chief Customer and Commercial Officer, Lavinia Lau, highlighted the steady improvement in their travel business throughout the first quarter of 2023. The airline’s focus on reconnecting Hong Kong with the world has resulted in a 19% growth in passenger numbers in March compared to February.
In March, Cathay Pacific resumed services to three more destinations: Shanghai Hongqiao airport, Haikou, and Nagoya. The airline experienced significant demand for both business and leisure travel, particularly to Hongqiao. Flights to Japan and South Korea enjoyed increased passenger traffic due to the cherry blossom season and the Easter holiday demand.
Cargo Business and Future Outlook
Cathay Pacific’s cargo business also reported a double-digit growth of 17% in tonnage carried in March compared to February. The growth was primarily driven by e-commerce shipments from Hong Kong and the Chinese Mainland. In April, however, market demand is expected to dampen due to the Ching Ming Festival, Easter, and Ramadan. Nevertheless, the airline will continue to expand market coverage for its customers and maintain its position as a leading cargo carrier.
Cathay Pacific has demonstrated impressive resilience in the face of adversity, showcasing a strong recovery in both its passenger and cargo operations. With the airline’s ongoing commitment to rebuilding the Hong Kong international aviation hub, it is well-positioned to surpass pre-pandemic levels of airfreight tonnage in the near future.
First love never dies. I fell in love with airplanes and aviation when I was a kid. My dream was to become a pilot, but destiny led me to another path: to be an aviation digital media content creator and a small business owner. My passion for aviation inspires me to bring you quality content through my website and social accounts. Aviation is indeed in my blood and blog!
