BRIEF: Cathay Pacific passenger, cargo traffic rise in October

Cathay Pacific Airways Ltd. (0293.HK) said on Monday its Cathay Pacific and HK Express services collectively carried over 3.2 million passengers in October, up 21% month-on-month. Its cargo volume for the month exceeded 150,000 tons, up 12% from the previous month.

Cathay’s Chief Customer and Commercial Officer Lavinia Lau said the company benefited from multiple holidays during the month, including the Oct. 1 National Day holiday, and the Mid-Autumn Festival, which spurred a significant uptick in leisure travel demand early in the month. The hosting of several major exhibitions in Hong Kong also drew inbound travelers from multiple long-haul markets. The airline achieved an 86% passenger load factor for the month, marking a multi-year high for October.

In November, Cathay launched daily direct flights to Changsha and returned to Adelaide with three-times-weekly seasonal service. HK Express will launch daily flights to Kota Kinabalu in Malaysia later in the month. 

Shares of Cathay Pacific opened up 0.8% at HK$11.69 on Tuesday. The stock is up 40% from its 52-week low.

By Lau Chi Hang

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