Cathay Pacific Releases September 2005 Traffic Figures

Cathay Pacific Airways today released improved passenger and cargo traffic figures for September 2005. Although the latest Bali bomb attacks had minimal impact on passenger numbers rising fuel prices may be contributing to weaker advance bookings.

The airline carried 1,245,828 passengers in September, a 13.8 percent increase year-on-year, just ahead of a corresponding 12.7 percent increase in passenger capacity, measured in terms of Available Passenger Kilometres, or ASKs. The passenger load factor increased to 76.4 percent, up 1.2 percentage points from the same month last year, helped by the Chinese Mainland's Golden Week holiday.

Cathay Pacific carried 100,292 tonnes of cargo, up 19.8 percent from September last year, a figure that includes significant transhipment tonnage growth. Increased competition on key trunk routes to the US and Europe added to downward pressure on yield. The cargo load factor dipped slightly to 68.7 percent.

Recent market jet fuel prices have topped US$85 a barrel, up by more than one-third from the first half of this year.

Cathay Pacific General Manager Revenue Management, Sales & Distribution Ian Shiu said: "Passenger growth is keeping pace with increased capacity, yet increased uncertainty has been created by high fuel prices. Although there is no obvious trend in passenger numbers, increasingly late bookings have added to the sense of market volatility and weakened pricing."

Cathay Pacific Director & General Manager Cargo Ron Mathison said: "September's high tonnage growth, boosted by transhipment, masks the softening in demand for exports from China, including a slowdown in garment shipments. We have seen a significant increase in cargo capacity in the market in the last few months and remain highly concerned about the pressure on yields and loads, particularly in the context of high jet fuel prices."

Cathay Pacific Airways
Corporate Communication Department