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Hong Kong’s flag-carrier had 57,982 passengers in May, up 141.5%, and revenue passenger kilometers soared 164.2% as travel restrictions ease
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The cargo division reported a flat year-on-year performance
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Despite the high passenger number, it is 97% below pre-pandemic levels
Cathay Pacific carried a total of 57,982 passengers in May, an increase of 141.5% year on year, but down 97% from its pre-pandemic passenger traffic in May 2019, as more people travelled with the easing of COVID-19 travel restrictions.
The Hong Kong flag-carrier transported 92,426 tons of cargo last month, similar to the May 2021 level, but 45.1% below the volume during the same period in 2019.
The May figures released on Tuesday, June 14, started to reflect the positive impact of changes the Hong Kong government made in phases to its travel restrictions and quarantine requirements after two years of stringent rules aimed at defeating the contagion in the city.
READ: Cathay Pacific sustains cargo, passenger traffic rebound
Cathay Pacific’s revenue passenger kilometers (RPKs) surged 164.4% y-o-y, but were down 97.1% versus May 2019. Passenger load factor rose 33.7 percentage points to 60.5%, while capacity, measured in available seat kilometers (ASKs), grew 16.8% y-o-y, but fell 96% compared with May 2019 levels.
In the first five months of 2022, the number of passengers carried increased 59.1% y-o-y against a 48.5% decline in capacity and a 49.3% rise in RPKs.
In its cargo operation, Cathay’s revenue freight ton kilometers (RFTKs) fell 32.5% y-o-y, and were down 59.9% from the May 2019 level.
The cargo load factor fell 5.3 percentage points to 75.7%, while capacity, measured in available cargo ton kilometers (AFTKs), shrank 27.7% y-o-y and contracted 66.1% from May 2019.
In the first five months of 2022, tonnage decreased 4.3% against a 38.9% drop in capacity and a 41% decline in RFTKs, as compared with the same period in 2021.
“The introduction of further adjustments to travel restrictions and quarantine requirements in Hong Kong from May 1 was a welcome development, although our business during the month remained constrained,” said Chief Customer and Commercial Officer Ronald Lam.
“We increased our passenger flight capacity by 78% compared with April, but we still only operated about 4% of our pre-pandemic levels. Traffic volume in terms of RPK increased 94% month on month, and this was driven primarily by long-haul flights. As a result, overall load factor reached 60.5%,” Lam said.
Lam said additional passenger flight capacity that the airline mounted in May provided better connectivity for its transit passengers, particularly those travelling from China to long-haul destinations such as the United States, Europe and Australia.
“Demand for inbound flights to Hong Kong saw substantial growth, driven by pent-up demand out of North America, the UK and Europe. We also resumed flights to India last month with services to Delhi and Mumbai,” Lam said.
He said Cathay continued to operate limited routes into China to comply with capacity restrictions.
In the cargo division, Lam said the situation in Shanghai continued to affect demand, although tonnage gradually picked up as COVID-19 restrictions began to ease towards the end of May.
“As for Hong Kong, volumes improved as cross-border feeder services between Shenzhen and Hong Kong allowed for a more stable flow of cargo, although it remains below the capacity available before the fifth wave of COVID-19 in Hong Kong,” Lam said.
He said demand from other parts of Cathay’s network remained relatively strong throughout the month. “Overall in May, we operated about 34% of our pre-pandemic cargo flight capacity, while load factor was 75.7%,” he said.
Lam said travel restrictions and quarantine requirements were tightened in the first quarter of 2022 as Hong Kong continued to fight against COVID-19, restricting Cathay’s ability to operate beyond just a fraction of its passenger services and significantly reducing its cargo capacity.
