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16 August, 2024
Cathay Pacific releases traffic figures for July 2024
Cathay Pacific releases traffic figures for July 2024
Cathay Pacific has just released its traffic figures for July 2024, which showed that the airline achieved a new milestone by carrying more than two million passengers in a single month for the first time since the pandemic.
Cathay Pacific carried a total of 2,008,225 passengers in July 2024, an increase of 15.1% compared with July 2023. The month’s revenue passenger kilometres (RPKs) increased 16.1% year on year. Passenger load factor decreased by 3.8 percentage points to 85.5%, while available seat kilometres (ASKs) increased by 21.2% year on year. In the first seven months of 2024, the number of passengers carried increased by 32.5% to a total of 12,667,826, against a 39% increase in ASKs and a 31.6% increase in RPKs, as compared with the same period for 2023.
The airline carried 126,797 tonnes of cargo in July 2024, an increase of 9.6% compared with July 2023. The month’s cargo revenue tonne kilometres (RFTKs) decreased 0.5% year on year. The cargo load factor decreased by 1.5 percentage points to 58.3%, while available cargo tonne kilometres (AFTKs) increased by 2.1% year on year. In the first seven months of 2024, the tonnage increased by 10.3% to a total of 846,261 tonnes, against a 9.9% increase in AFTKs and a 3.8% increase in RFTKs, as compared with the same period for 2023.
Travel
Chief Customer and Commercial Officer Lavinia Lau said: “Marking the start of the traditional summer travel peak, July was a milestone month for Cathay Pacific as the airline carried over two million passengers for the first time in a single month since our rebuild, while the 85.5% load factor was the highest of any month so far this year.
“Such robust demand was driven by the increased popularity of long-haul flights to and from Hong Kong in the first half of the month among students and those visiting friends and relatives. This was followed by a surge in demand for travel to popular short-haul destinations in Japan and Southeast Asia in the second half of July. In addition, we saw strong demand for flights to Paris due to the Olympic Games, and we were delighted to carry a significant number of athletes and spectators to attend this momentous sporting occasion.
Cargo
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July Performance
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An Outdoor Terrace with Picturesque Mountain Views: The outdoor seating area will be equipped with heaters and fans for use year-round, providing guests with views of the airfield and the Wasatch Mountains.Delicious Food from an Award-Winning, Resy Chef featuring Fresh, Local Ingredients: Guests will be able to enjoy a hot breakfast, a rotating selection of main courses, sides, salads, and soups throughout the day, and freshly made desserts.“Blue Roast by American Express” Coffee Bar: A coffee bar with counter service featuring espresso beverages, cold brew, and rotating seasonal specialty coffee drinks from a local roaster.Full Bar with Bespoke Cocktail Menu and Wine List: A wide selection of drinks will be available to order from two bars, including a locally inspired cocktail menu featuring alcoholic and non-alcoholic beverages designed by Centurion Lounge Mixologist Jim Meehan and a selection of wines hand-picked by Anthony Giglio, Centurion Lounge Wine Director and sommelier.Comfortable Seating Areas All Types of Travelers: Guests will have a wide range of seating options to choose from, including cozy armchairs, cafe seating and dining banquettes, quiet workspaces, a dedicated wellness room, and more.
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“Our financial results for the second quarter demonstrate strong execution by the Surf Air Mobility team. Revenue exceeded our expectations and Adjusted EBITDA was materially higher than our initial plan. We remain focused on executing our strategy and on our unwavering commitment to expand our footprint and leadership position in the regional air mobility market,” said Deanna White, Chief Operating Officer and Interim CEO of Surf Air Mobility.
She continued, “In the last 90 days, we have moved rapidly to implement operational improvements and stringent management of operating expenses. These efforts resulted in second quarter positive adjusted EBITDA for our regional airline operations, formerly known as Southern Airways, reversing a longstanding trend. In addition to driving substantive improvement in those operations, we are simultaneously advancing our Technology operations, including the ‘SurfOS’ technology platform and our EP1 Caravan electrification initiative.
She concluded, “We are fundamentally improving our operating model and refining strategies to reduce our cost of operations. In addition, we plan to sub-capitalize key initiatives to drive efficiencies and more effectively manage capital. To that end, we recently announced a ground-breaking new venture, Surf Air Technologies, powered by Palantir Technologies. Together with Palantir, we will develop, market and sell AI-powered software tools to create a category-defining operating system for the advanced air mobility industry. This venture uniquely places Surf Air Mobility at the forefront of innovation in our industry.”