Cathay Pacific first-half performance below expectations, CE says
Cathay Pacific Airways said its performance in the first half of 2016 was “below expectations” as growth in the number of flyers failed to keep pace with an increase in capacity. The combined passenger load factor for Cathay Pacific and unit Dragonair fell by 1.7 percentage points to 85.5% in the period, the airline said. While the capacity increased 4.2%, the growth in passenger traffic was 2.7%. CE Ivan Chu said: “Passenger revenue has been adversely affected by the reduced load factor and intense pressure on yield. Cargo tonnage has stabilised but yield continues to decline.” The emergence of mainland Chinese carriers and many regional budget airlines are hurting premium operators such as Cathay Pacific and SIA. A rebound in crude oil prices this year may also weigh on earnings. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2016-07-19/oneworld/cathay-pacific-first-half-performance-below-expectations-ce-says
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Cathay Pacific first-half performance below expectations, CE says
Cathay Pacific Airways said its performance in the first half of 2016 was “below expectations” as growth in the number of flyers failed to keep pace with an increase in capacity. The combined passenger load factor for Cathay Pacific and unit Dragonair fell by 1.7 percentage points to 85.5% in the period, the airline said. While the capacity increased 4.2%, the growth in passenger traffic was 2.7%. CE Ivan Chu said: “Passenger revenue has been adversely affected by the reduced load factor and intense pressure on yield. Cargo tonnage has stabilised but yield continues to decline.” The emergence of mainland Chinese carriers and many regional budget airlines are hurting premium operators such as Cathay Pacific and SIA. A rebound in crude oil prices this year may also weigh on earnings. <br/>
