Cathay Pacific Releases Combined Traffic Figures for August 2008

Cathay Pacific Airways today released combined Cathay Pacific and Dragonair traffic figures for August 2008 that show only a marginal growth in the number of passengers carried compared to a double-digit capacity climb. For cargo, both the tonnage carried and capacity fell compared to the same month in 2007.

Last month Cathay Pacific and Dragonair carried a total of 2,129,749 passengers - an increase of 0.5% over August 2007. The month's load factor was down 4.7 percentage points to 78.4%, while capacity, measured in available seat kilometres (ASKs), was up 14.0% on the previous year. For the year to date, the number of passengers carried has risen by 11.3% compared to a capacity rise of 14.5%.

The two airlines carried 140,589 tonnes of cargo and mail in August, a drop of 3.1% on the same month in 2007. Capacity for the month, measured in available cargo/mail tonne kilometres, fell by 5.4% while the cargo and mail load factor rose by 0.6 percentage points to 65.9%. For the year to date, the amount of freight carried has risen by 5.3% compared to a capacity climb of 4.6%.

Cathay Pacific General Manager Revenue Management Tom Owen said: "The number of passengers carried rose only marginally in August against a significant rise in capacity compared to last year - mainly on routes to Australia, North America and India. The Beijing Olympics and the impact of the two typhoons that hit Hong Kong had a negative impact on passenger numbers for the month. Premium demand continues to show signs of softening in the months ahead."

Cathay Pacific General Manager Cargo Sales & Marketing Titus Diu said: "There was a significant reduction in our freighter capacity in August as we reduced services to offset the impact of high fuel prices. Demand during August was certainly affected by the Olympics in Beijing, with a drop in exports out of China around the Games period. On the plus side, our second Boeing 747-400ERF 'Extended Range Freighter' is now in service and helping to improve efficiency on our important North American trunk routes."