Despite passenger traffic boost, Cathay Pacific flags annual loss

Monday, 20 Nov, 2022 0

Cathay Pacific carried a total of 400,909 passengers in October, an increase of 424% compared with October 2021.

However it is still 85.4% down on pre-pandemic levels in October 2019.

The month’s revenue passenger kilometres (RPKs) increased 416% year-on-year.

Passenger load factor increased by 44% to 73.6.

In the first 10 months of 2022, the number of passengers carried was up by 166%.

CCO Ronald Lam said: “Following the lifting of quarantine requirements, travel sentiment out of Hong Kong improved significantly in October.”

Demand for the first half of October was fuelled by flights to Bangkok, Singapore and Seoul.

“We then saw a surge in demand for travel to Japan when quarantine requirements were relaxed.”

Cathay increased regional flight frequencies to destinations in Japan, and resumed services to Madrid, Milan, Bengaluru, Dubai and Kathmandu.

“Overall in October Cathay operated 21% of pre-pandemic passenger flight capacity levels.

Passenger numbers increased to nearly 13,000 per day, up from over 8,800 in September.

“We already announced an addition 3,000 passenger flight sectors from October until the end of December.”

“Travel demand for the rest of 2022 continues to improve,” Lam added.

Cathay still expects a ‘substantial’ loss overall for the full year of 2022.

Looking further ahead, it anticipates it will be operating around 70% of pre-pandemic passenger flight capacity by the end of 2023.

It hopes to return to pre-pandemic capacity by the end of 2024.



Related News Stories :   Bill introduced to prevent another FAA outage     Rivals step in as Flybe ceases trading     Auckland Airport flood still impacting flights     Wizz Air joins scramble to recruit Flybe workers     Saturday Night Live rips Southwest Airlines     Ryanair makes record Q3 airline profit  

profileimage

Ray Monty



Most Read

Jane Cunningham, Director of European Engagement Destinations International

Fred Bean, Founder and CEO of Hotelport

Kent Anderson of Kirk Mountain Adventures

The essence of Atlantic Canada

Elliot Ferguson of Destination DC

TravelMole at Casa 2022

Tommy Thompson CEO of St Kitts Tourism

Zsusa Szegner from Hungary

75th Outrigger Hawaii anniversary celebrates the largest collection of resorts and hotels

Outrigger Hotels & Resorts celebrate their expanded Asia Pacific portfolio on its 75th anniversary

VisitAlgarve has exceeded pre-Covid tourism revenues...Exec Dir Hugo Nascimento expects more

Tim Wolfe of Colorado Tourism explains the strategy that will keep international tourists coming
TRAINING & COMPETITION

Price Based Country test mode enabled for testing United States (US). You should do tests on private browsing mode. Browse in private with Firefox, Chrome and Safari