Cathay Pacific 2002 Annual Report Download - page 11

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8Cathay Pacific Airways Limited Annual Report 2002
Highlights by region are as follows:
North Asia
•Traffic and yields were affected by the opening
of a second runway at Tokyo’s Narita airport.
•Taipei remained strong despite the pressure on
yield resulting from increased competition.
•The Korean market was temporarily boosted
by increased traffic during the World Cup
soccer finals.
South East Asia and Middle East
•Front end demand weakened as corporate
travellers shifted to economy class.
•Declining yields were compensated by load
factors which rose due to a surge in demand
from leisure travellers.
•Middle East markets performed well, particularly
our service to Dubai. Services to Bahrain and
Riyadh attracted high traffic volumes from
contract workers.
•The service to Delhi consolidated its position a
year after inauguration.
•The bomb attack in Bali prompted cancellations
on many flights and bookings were slow during
the usual peak Christmas and New Year season.
•An increasing number of long haul passengers
now connect to our South East Asian network
through our hub at Hong Kong International
Airport.
Europe
•Europe performed well throughout the year with
exceptionally high load factors and a recovery
in the business travel market.
•An additional four times weekly daytime service
commencing in July helped make London one
of our strongest performing routes.
•Traffic on our European services was
strengthened by an increase in passengers
originating in Japan, Korea and Taiwan.
Pacific and South Africa
•The continued success of our service to
Johannesburg led to the recent launch of a fifth
weekly service operated by a higher capacity
B747-400 aircraft.
•Australia and New Zealand remained strong and
additional services were launched to Auckland,
Brisbane and Melbourne.
•Transpacific traffic recovered and capacity was
increased to San Francisco with the introduction
of a larger B747-400 aircraft. The second daily
service to Los Angeles resumed in August.
Review of Operations