Cathay Pacific Posts Improved Load Factor In Aug. Driven By Student Traffic; Cuts Capacity Outlook

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(RTTNews) – Cathay Pacific (CPCAF.OB) reported that its passenger load factor was at 46.4% for the month of August, the highest it’s been since March 2020. The company noted that this passenger performance was driven primarily by student traffic, in particular from the Chinese Mainland to the US.

The airline carried a total of 135,353 passengers in August, up 278.4% from last year. Revenue passenger kilometres rose 294.1% year-on-year. Capacity, measured in available seat kilometres, was up 68.9% year-on-year. Passenger load factor increased by 26.5 percentage points to 46.4%.

The August capacity was at about 13% of pre-pandemic levels. The Group said it now only expects to maintain similar passenger capacity levels to August 2021 for the remainder of the year. Previously, it hoped to operate as much as 30% of pre-pandemic capacity by the fourth quarter of 2021.

The Group continues to target cash burn of less than HK$1 billion per month for the rest of 2021.