Cathay Pacific Airways continued to experience poor market conditions in November as a result of the deepening global economic downturn and weak travel demand. The number of passengers carried was 803,656, 13.8% less than in the same month last year. The volume of passenger traffic, measured in revenue passenger kilometres (RPKs), was 15.3% lower than the comparable figure for November 2000, with North Asian routes showing particular weakness. The amount of cargo carried was 67,538 tonnes, 6.5% lower than the same month last year.
For the first eleven months of 2001 the number of passengers carried was down 5.3%, and the amount of cargo carried was down 9.1% compared to the same period last year.
Cathay Pacific`s General Manager Revenue Management, Sales & Distribution Ian Shiu said: “The November figures show a continuation of the pattern of weak market demand for both passenger and cargo services. Load factors are still down, and yields have also fallen as a result of weak front-end demand and the introduction of various initiatives to match aggressive pricing activities launched by competitors. We expect market conditions to remain challenging for the foreseeable future.”