Cathay Pacific 2015 Annual Report Download - page 18

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Cathay Pacific Airways Limited
16
Cathay Pacific and Dragonair carried 34.1 million passengers in 2015, an increase of 7.9%
compared to 2014. Revenue decreased by 3.5% to HK$73,047 million. The load factor increased
by 2.4 percentage points to 85.7%. Capacity increased by 5.9%, reflecting the introduction of
new routes (to Boston, Düsseldorf, Hiroshima and Zurich) and increased frequencies on some
other routes. Strong competition, a significant reduction in fuel surcharges, unfavourable
foreign currency movements and the fact that a higher proportion of passengers were
connecting through Hong Kong put downward pressure on yield, which decreased by 11.4%, to
HK59.6 cents. Economy class demand was strong. Premium class demand improved on regional
routes but was not as strong as expected on some long-haul routes.
Review of Operations Passenger Services
Available seat kilometres (“ASK”), load factor and yield by region for
Cathay Pacific and Dragonair passenger services for 2015 were as follows:
ASK (million) Load factor (%) Yield
2015 2014 Change 2015 2014 Change Change
India, Middle East, Pakistan and
 SriLanka 10,127 10,685 -5.2% 82.9 80.1 +2.8%pt -8.0%
Southwest Pacific and South Africa 19,350 18,032 +7.3% 89.3 85.1 +4.2%pt -13.9%
Southeast Asia 20,641 18,625 +10.8% 83.2 81.3 +1.9%pt -10.6%
Europe 23,969 21,056 +13.8% 88.5 88.0 +0.5%pt -12.7%
North Asia 30,267 29,649 +2 .1% 80.6 77. 9 +2.7%pt -10.9%
North America 38,326 36,664 +4.5% 88.4 86.1 +2.3%pt -10.8%
Overall 142,680 134,711 +5.9% 85.7 83.3 +2.4%pt -11.4%
%
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%
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2011 2012 2013 2014 2015
2011 2012 2013 2014 2015
Load factor by region
North Asia
Southwest
Pacicand
South Africa
Southeast
Asia
Europe North
America
India,MiddleEast,
Pakistanand
SriLanka
HKcents
Passenger load factor and yield
YieldPassengerloadfactor