Cathay Pacific reports robust passenger and cargo growth in April 2024

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21st May 2024 – (Hong Kong) Cathay Pacific Airways has disclosed its April 2024 traffic figures, revealing a significant uptick in both passenger and cargo volumes, driven by a series of holidays and major events across the region. The data underscores a robust recovery in travel demand, with the airline navigating a busy period effectively.

In April, Cathay Pacific transported 1,741,585 passengers, marking a 26.1% increase from the same month last year. This growth was accompanied by a 27.8% rise in revenue passenger kilometres (RPKs), although the passenger load factor saw a decrease of 5.4 percentage points, settling at 81.6%. The airline expanded its capacity, as evidenced by a 36.2% increase in available seat kilometres (ASKs).

The first four months of 2024 have proven fruitful for Cathay, with passenger numbers soaring by 47.3% to 7,143,363. This period also saw a substantial rise in ASKs and RPKs, demonstrating sustained momentum in air travel recovery.

On the cargo front, Cathay Pacific handled 117,428 tonnes in April, up 7.4% year-over-year, despite a slight 0.4% dip in cargo revenue tonne kilometres (RFTKs). The cargo load factor declined by 4.2 percentage points to 59.5%, with available cargo tonne kilometres (AFTKs) increasing by 6.6%.

Lavinia Lau, Chief Customer and Commercial Officer, highlighted the impact of multiple holidays and significant events on travel patterns. “April was buoyed by the Easter holidays and the Cathay/HSBC Hong Kong Sevens, followed by festive periods in Southeast Asia, and the ‘Golden Week’ holidays in Japan and China, all contributing to a vibrant travel landscape,” Lau explained.

The airline also noted a healthy demand for business travel, particularly driven by events like the Canton Fair in Guangzhou. Cathay Pacific’s intermodal codeshare ferry services, offering seamless transfers between Hong Kong International Airport and Pazhou Ferry Terminal, have enhanced accessibility and convenience for business travellers.

Looking ahead, Cathay Pacific is optimistic about the travel outlook. The expansion of the Individual Visit Scheme to include more Chinese cities is expected to boost inbound tourism significantly. With plans to resume flights to Barcelona and introduce new routes via HK Express, Cathay anticipates a busy summer, further buoyed by student travel and an optimistic cargo sector forecast.