Cathay Pacific marked off a significant operational milestone in October 2024, successfully operating more than 10,000 passenger and cargo flight sectors in a single month for the first time this year.
This accomplishment came off the back of a 19% year on year increase in passenger traffic for the month.
This achievement underscores the airline’s continued recovery and expansion in the post-pandemic aviation landscape.
Passenger Performance Highlights
The airline transported 2,014,105 passengers in October 2024, representing a 19.6% increase compared to the same month in 2023.
Revenue passenger kilometres (RPKs) grew by 19.1% year-on-year. Although the passenger load factor slightly decreased by 1.6 percentage points to 83.1%, available seat kilometres (ASKs) expanded by 21.3% year-on-year. This reflected the airline’s strategic network expansion.
Year-to-Date Passenger Trends
For the first ten months of 2024, Cathay Pacific has carried 18,567,818 passengers, a 27.4% increase from the previous year. This growth accompanies a 32.7% rise in ASKs and a 26.8% increase in RPKs compared to the same period in 2023.
The consistent upward trajectory highlights the airline’s successful post-pandemic recovery strategy and increasing global connectivity.
Cargo Operations Performance
In October 2024, the airline transported 142,323 tonnes of cargo, a 14.3% increase from October 2023. Cargo revenue tonne kilometres (RFTKs) grew by 9.8% year-on-year.
The cargo load factor improved by 0.8 percentage points to 61.5%, with available cargo tonne kilometres (AFTKs) increasing by 8.4% year-on-year.
Cumulative Cargo Performance
Year-to-date cargo tonnage reached 1,245,899 tonnes, a 10.4% increase. This growth accompanied an 8.8% rise in AFTKs and a 4.1% increase in RFTKs compared to the same period in 2023.
The consistent cargo performance reflects Cathay Pacific’s strong position in the global air freight market, particularly in the Asia-Pacific region.
The traditional cargo peak season continued in October, with tonnage 7% higher than the previous month and 14% above October 2023. Demand originated from Hong Kong, Chinese Mainland, and the Americas, with notable increases in general cargo, machinery movements, and inventory replenishment.
Cathay Cargo was recognized at the Payload Asia Awards 2024, winning Best Overall Carrier and Best E-commerce Carrier for the Asia Pacific region. These accolades underscore the airline’s innovative approach to cargo logistics and its ability to adapt to changing market demands.
Travel Insights
Lavinia Lau, Chief Customer and Commercial Officer, highlighted October’s robust performance. The month saw strong leisure and business travel demand, with notable traffic during the National Day ‘Golden Week’ and Chung Yeung Festival.
Premium cabin passenger numbers reached their highest level since the pandemic, driven by exhibitions, conventions, and the Canton Fair.
The launch of non-stop services between Hong Kong and Riyadh has been well-received, attracting customers from multiple markets. These included Hong Kong, Chinese Mainland, Saudi Arabia, and Indonesia. This strategic route expansion demonstrates the airline’s commitment to connecting diverse markets and meeting evolving customer travel needs.
Future Outlook
Cathay Pacific anticipates a strong Christmas travel period, with Japan expected to be a top outbound destination. The airline also expects significant inbound travel from North America, the United Kingdom, and Europe, reflecting the continued recovery of international travel patterns.
Upcoming network expansions include:
- Seasonal Hong Kong-Cairns service starting 17 December 2024
- Resumption of non-stop flights to Hyderabad from 30 March 2025
- HK Express launching Hong Kong-Hiroshima routes, increasing to four weekly flights in January 2025
These route additions demonstrate the airline’s strategic approach to network expansion, targeting both leisure and business travelers with carefully selected destinations.
Cargo demand is projected to remain robust through the peak season, driven by e-commerce, high-tech electronics, and perishables from various regions.
The continued growth reflects the dynamic global supply chain and Cathay Pacific’s pivotal role in international logistics.
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