Cathay Pacific Sees 19% Surge in October Passenger Numbers

Cathay Pacific Reports Record Traffic Figures for October 2024: A Look at Passenger and Cargo Growth

Hong Kong-based Cathay Pacific has announced impressive traffic figures for October 2024, marking a significant milestone in the airline’s operations. For the first time this year, Cathay Pacific operated over 10,000 passenger and cargo flight sectors in a single month. The airline’s report, released on November 21, highlights a substantial increase in passenger numbers, showcasing the resurgence of travel demand post-pandemic.

In October 2024, Cathay Pacific carried a total of 2,014,105 passengers, reflecting a remarkable 19.6% increase compared to the same month last year. The revenue passenger kilometers (RPKs), which measure revenue earned from passenger flights, also rose by 19.1% year-on-year. Despite these gains, the airline’s network load factor dipped slightly by 1.6 percentage points to 83.1%, attributed to a 21.3% surge in available seat kilometers (ASKs). Cumulatively, Cathay Pacific has transported 18,567,818 passengers in the first ten months of 2024, a significant 27.4% jump compared to the same period in 2023.

Strong Demand for Travel

"October was another good month for our travel business," said Lavinia Lau, Chief Customer and Commercial Officer. "We experienced robust demand for both leisure and business travel, achieving a solid load factor of 83% across our network."

• The airline observed considerable leisure traffic from Hong Kong and the Chinese Mainland to destinations in Southeast Asia, Northeast Asia, and Europe during the National Day ‘Golden Week’ holiday.
• The Chung Yeung Festival long weekend further stimulated demand for short-haul travel, with Japan emerging as the most popular destination among travelers.

Lau noted that business travel remained strong due to various exhibitions and conventions in Hong Kong, as well as the Canton Fair in nearby Guangzhou, resulting in a significant uptick in premium cabin passengers.

Cargo Performance Shows Growth

On the cargo front, Cathay Pacific also reported positive results. The airline transported 142,323 tonnes of cargo in October 2024, an increase of 14.3% compared to the same month last year. The cargo revenue tonne kilometers (RFTKs) rose by 9.8% year-on-year. The cargo load factor increased by 0.8 percentage points to 61.5%, while available cargo tonne kilometers (AFTKs) grew by 8.4%.

• The demand for cargo was driven by e-commerce and high-tech goods, particularly from the Chinese Mainland and Southeast Asia.
• Lau highlighted the continued growth in shipments through Cathay Expert services due to machinery movements out of Northeast Asia.

Future Outlook for Cathay Pacific

Looking ahead, Lau anticipates a strong Christmas travel peak, with Japan expected to be a top destination for outbound travelers. In terms of new services, Cathay Pacific will launch a seasonal service of three flights per week between Hong Kong and Cairns on December 17, 2024. Additionally, the airline plans to resume non-stop passenger services to and from Hyderabad starting March 30, 2025, enhancing its network presence in India.

Furthermore, Cathay’s low-cost subsidiary, HK Express, has recently increased its flights between Hong Kong and Hiroshima, with plans to expand to four return flights per week in January 2025.

Conclusion

Cathay Pacific’s October 2024 traffic figures signify a strong recovery in both passenger and cargo operations, driven by robust travel demand and strategic route expansions. As the airline gears up for the holiday season, the outlook remains positive, with expectations of continued growth in both leisure and business travel.

For more insights into Cathay Pacific’s operations and travel trends, feel free to explore our related articles or share your thoughts in the comments below!