Cathay Pacific releases promising October 2005 traffic figures

The airline carried 1,306,116 passengers in October, an 11.9 percent increase on the same month last year. The passenger load factor was 76.3 percent, down 1.3 points year-on-year.
Traffic was lighter during Ramadan with fewer people taking to the air. Yield, the amount paid for every passenger kilometre flown, remained depressed as customers continued to book late in an environment of aggressive ticket pricing.

Cathay Pacific carried 103,962 tonnes of cargo in October, up 14.8 percent year-on-year, boosted by an increase in transhipment cargo to and from Shanghai. The cargo load factor was 69.9 percent, down 1.4 points reflecting weak demand for exports from Europe and the US to Asia.

Market jet fuel prices have increased more than 43 percent in the past year and remained high in October, at almost US$80 a barrel, compared to US$64 for Brent crude. Into-plane prices paid by the airline are higher still with added fuel transportation costs.

The price of jet fuel is higher than that for crude oil because it is obtained from only a small fraction of refined crude. High demand for petrol can also prompt refineries to reduce jet fuel production, further raising its cost. Analysts say jet fuel demand, and prices, have dipped slightly in the past month as fewer people travelled to and from hurricane-hit areas in the United States, yet may rebound with the peak holiday travel season in the US, starting late November with Thanksgiving.

James Evans, Cathay Pacific Country Manager for UAE and Oman commented:

"There has been a gradual increase in our traffic figures compared to the same time last year. While traffic figures in Ramadan figures did decline, it was not a significant reduction. We have had a steady November and have already received a lot of enquiries for our December schedule. Dubai being a cosmopolitan city, many people will be flying home for the Christmas and New Year holidays as well as taking well-earned winter breaks to the many destinations offered by Cathay Pacific."

Cathay Pacific will continue to expand its services and is will add one flight from Dubai to Mumbai, during the upcoming holiday season. The airline will be operating a total of 5 flights per week from December 13th, 2005 to January 31, 2006 to cope with passenger demand and the holiday peak season.