Cathay Pacific’s strong December 2023 traffic figures

Wednesday, January 24, 2024

Cathay Pacific has unveiled its traffic statistics for December 2023. Throughout the entirety of 2023, the Cathay Group, inclusive of Cathay Pacific and HK Express, achieved a significant milestone by transporting over 20 million passengers. This marks a substantial increase compared to the approximately three million passengers carried in the entirety of 2022.

In December 2023 alone, Cathay Pacific carried a total of 1,779,457 passengers, showcasing a remarkable surge of 122.1% compared to December 2022. The revenue passenger kilometres (RPKs) for the month experienced an 89.3% year-on-year increase. However, the passenger load factor dipped by 2 percentage points to 81.2%, even as available seat kilometres (ASKs) rose by 94% year on year. For the entire year of 2023, the number of passengers carried witnessed a remarkable spike of 541.5%, with ASKs and RPKs increasing by 326.8% and 396.8%, respectively, compared to 2022.

Cargo-wise, in December 2023, the airline transported 128,546 tonnes, reflecting a 20.7% increase from December 2022. The cargo revenue tonne kilometres (RFTKs) saw a 14.1% year-on-year rise. However, the cargo load factor decreased by 6.5 percentage points to 60.8%, even with available cargo tonne kilometres (AFTKs) increasing by 26.3% year on year. Over the entire year of 2023, the tonnage carried increased by 19.6%, with AFTKs and RFTKs registering a 59.7% and 40.3% increase, respectively, compared to 2022.

Lavinia Lau, Chief Customer and Commercial Officer, emphasized the robust demand for travel services in December, particularly to short-haul leisure destinations like Japan and Southeast Asia. She highlighted strong demand from the United States, the Southwest Pacific, and the United Kingdom, especially during the peak period for international students returning to Hong Kong. Lau also commended the cargo business’s performance, attributing its success to the surge in year-end demand for e-commerce products and holiday-related perishable goods.

Looking ahead to 2024, Lau expressed the group’s commitment to rebuilding its flights and providing high-quality, reliable services despite ongoing challenges in the global aviation industry. Anticipating strong demand during the approaching Lunar New Year, she also announced the resumption of the popular Barcelona service in June. Additionally, Lau expects a steady increase in cargo demand, particularly in e-commerce, on the Americas and European lanes leading up to the Lunar New Year holidays.

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