Summary by Moomoo AI
Cathay Pacific Limited released passenger and cargo volume data for March 2024 on April 19, 2024. Data showed strong passenger demand for Cathay Pacific in March, benefiting from the Easter long holiday and multi-event events, with passenger traffic reaching 188,344 passengers, an increase of 42.4% year-on-year. Revenue passenger kilometres rose 38.1% year-on-year, but passenger ridership declined 6.6 percentage points to 83.8%. Available seat mileage increased by 48.9% year-on-year. Passenger traffic increased by 55.7% year-on-year in the first three months and revenue passenger kilometres increased 47.7%. In terms of freight, the volume of goods shipped in March amounted to 13 million 4.5 million tons, an increase of 10.5% year-on-year. Cargo revenue tonne-kilometres increased 4.1% year-on-year, freight rates decreased 4.3 percentage points to 62.7%, and available tonne-kilometres increased by 11.2% year-on-year. Cathay Pacific expects continued growth in passenger and cargo demand as the Mainland's May Day Golden Week holiday arrives.