Cathay Pacific has released its traffic figures for May 2024, showcasing significant growth in both passenger and cargo sectors. Over the first five months of the year, Cathay Pacific and its subsidiary HK Express carried a combined total of 11.2 million passengers, surpassing the 10 million mark and reflecting the ongoing recovery and expansion of their services.
In May 2024 alone, Cathay Pacific transported 1,678,532 passengers, marking an 18.4% increase compared to May 2023. Revenue passenger kilometers (RPKs) saw a year-on-year rise of 20.8%. However, the passenger load factor dropped by 4.8 percentage points to 80.3%, despite a 28% increase in available seat kilometers (ASKs). Year-to-date figures show a 40.7% increase in passenger numbers, totaling 8,821,895, with a 45.7% increase in ASKs and a 37.5% rise in RPKs.
The cargo sector also experienced growth, with Cathay Pacific carrying 121,088 tonnes of cargo in May 2024, up 10.2% from May 2023. The month’s cargo revenue tonne kilometers (RFTKs) increased by 3.8% year-on-year. Despite a 2.1 percentage point decrease in the cargo load factor to 59.4%, available cargo tonne kilometers (AFTKs) rose by 7.5%. Over the first five months of 2024, cargo tonnage increased by 10.2% to 594,896 tonnes, with AFTKs up by 11.8% and RFTKs by 4.4%.
Lavinia Lau, Chief Customer and Commercial Officer, noted that May was a quieter period for travel, particularly on regional routes, due to the absence of long-weekend holidays in Hong Kong. Despite a 4% month-on-month decrease in passenger numbers, there was an 18% year-on-year increase. Increased demand from Southeast Asia and strong long-haul traffic from North America contributed to high load factors, especially on U.S. and Canada routes.
Cargo demand remained robust, with a 10% year-on-year increase in May tonnage, driven by solid growth from Hong Kong, the Chinese Mainland, Taiwan, and Southeast Asia. Notable increases were seen in general cargo, high-end electronics, seafood, and consumer products, with e-commerce performing particularly well.
Looking ahead, Cathay Pacific aims to restore 100% of its pre-pandemic passenger flight capacity by the first quarter of 2025. The airline has already added several new destinations, including Chennai, Colombo, and Barcelona, with plans to expand to 90 destinations by next year. For cargo, Cathay Pacific expects continued strong demand and has relaunched its Cathay Expert solution to cater to specialised cargo needs, underscoring its commitment to becoming the world’s best air cargo carrier.
