Summary by Moomoo AI
Cathay Pacific Limited released passenger and cargo volume data for February 2024 on 21 March 2024. The data shows that passenger demand continues to be strong, especially during the Lunar New Year period. In February, Cathay Pacific reached 180,174 passengers, an increase of 61.6% over the same month in 2023, setting the highest single-day record since the pandemic. Revenue passenger kilometers increased by 50.3% year-on-year, but passenger ridership decreased slightly to 82.4%. In terms of freight, the cargo volume was 10,7039 tons in February, an increase of 3% year-on-year, and freight revenue in tonne-kilometers increased by 3.8% year on year. Cathay Pacific said the performance of its passenger and cargo business was in line with expectations and expected future passenger demand to grow gradually. The company also announced the opening of a new passenger service to Riyadh, the capital of Saudi Arabia, in the fourth quarter of this year.