Cathay Pacific and its sister airline, HK Express, part of the Cathay Group, have kicked off 2024 with impressive numbers, ferrying over two million passengers in January alone, which breaks down to an average daily passenger count exceeding 70,000.
Specifically, Cathay Pacific reported a significant 66.4% rise in passenger numbers this January compared to last year, with 1,717,200 travelers. Although the passenger load factor saw a slight decline of 4 percentage points to 82.8%, both revenue passenger kilometres (RPKs) and available seat kilometres (ASKs) experienced notable increases of 56.7% and 64.2% respectively.
Lavinia Lau, Chief Customer and Commercial Officer, reflected on the dynamics of the month, noting a predictable dip in leisure travel post-Christmas but a quick rebound in business travel, especially to and from the Chinese Mainland.
The airline saw particularly strong performance on routes to the Philippines, credited with nearly 90% load factors, making it January's standout route. The approach of Lunar New Year also spurred a late-January surge in travel demand from the Chinese Mainland.
Looking forward, Cathay Pacific anticipates continued strong demand for travel around the Lunar New Year period and a pickup in business travel afterward.
Final Thoughts
Cathay Pacific used to be one of my favourite airlines pre-pandemic. They consistently have top notch services, excellent soft and hard product on their aircraft and most of all, their airport lounges, particularly those at Hong Kong International Airport are some of the best lounges I've been to in the world.
I haven't been flying Cathay Pacific lately, due to the reported fluctuation of service provided to customers, but I'm hoping things start to get better and this is now a positive turning point for them.
