Cathay Pacific Logs 603% YoY Surge in Passenger Numbers as Flights Resume

Cathay Pacific has reported a staggering 603% year-on-year (YoY) increase in passenger numbers in August 2023, reaching a total of 1,784,980 travelers. This significant growth is attributed to the resumption of flights amidst a recovering travel industry.

The airline’s revenue passenger kilometres (RPKs) have seen a 342.8% YoY increase, while the passenger load factor has climbed by 19.4 percentage points to 88%. Capacity, measured in available seat kilometres (ASKs), soared by 244.9% YoY.

From January to August 2023, the number of passengers carried increased by 1,302% against a 633.1% increase in capacity and an 876.7% increase in RPKs, compared with the same period in 2022.

On the cargo front, Cathay Pacific carried 116,919 tonnes of cargo in August 2023, marking an 11.5% YoY increase. Cargo revenue tonne kilometres also rose by 13.2% YoY.

Chief Customer and Commercial Officer Lavinia Lau noted high demand for leisure travel from Hong Kong and beyond. Lau also predicts continued demand from students traveling to the U.K. in September. She disclosed plans to add more flight services, including resuming services to Colombo and Chennai in February 2024.

As for cargo services, the traditional peak period starts in September, coinciding with consumer sales events such as Singles Day in China, and Black Friday in other markets.