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Cathay sees possible yield challenge ahead

: Mar 22, 2011 - : 9:24 am

Cathay Pacific reported traffic figures for February that it said were in line with expectations, but warned of possible yield challenges ahead as capacity is ramped up.

Cathay Pacific and Dragonair carried a total of 2,036,437 passengers last month – down 1.2% on February 2010 – while the passenger load factor was down 6.8 percentage points to 77.3%. Capacity for the month, measured in available seat kilometres (ASKs), was up by 8.9%.

The two airlines carried 116,998 tonnes of cargo in February 2011, a drop of 2.3% compared to the same month last year, while the cargo and mail load factor was down 9.5 percentage points to 67.6%. Capacity, measured in available cargo/mail tonne kilometres, was up by 17.8%, while cargo and mail tonne kilometres flown were up by 3.3%.

Cathay Pacific General Manager Revenue Management Tom Owen said:
“February saw strong leisure demand on many regional routes due to return traffic over the Chinese New Year holiday period. Premium traffic volumes and yield also held up well throughout the month. When the January and February results are combined to remove Chinese New Year distortions, business was in line with expectations. However, there are Economy Class demand and yield challenges ahead across parts of our network as we continue to grow capacity, particularly on long-haul services.”

Cathay Pacific General Manager Cargo Sales & Marketing James Woodrow
said: “Demand out of the key Hong Kong and China markets was generally quite weak during and immediately after the Chinese New Year holidays in early February, with a number of factories in the Mainland staying closed for a longer period than usual. We saw some pick-up later in the month though there was no significant month-end rush. We managed our capacity in line with demand, cancelling a number of freighter services on long-haul trunk routes.”

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