Cathay Pacific 2004 Annual Report Download - page 14

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SOUTH EAST ASIA AND MIDDLE EAST
– A number of new carriers entered the market
in the region and the additional capacity put
pressure on yield.
– Campaigns to grow the leisure travel
market between Singapore and Hong Kong
stimulated demand.
– Extra flights were launched to Denpasar
in the summer and to Surabaya in the winter.
– The market responded well to the new thrice
weekly service between Singapore and Colombo
which, with the current Colombo to Bangkok
flights, created a daily Sri Lanka service.
– The Middle East performed well throughout
the year and services were added to Bahrain,
Dubai and Riyadh.
NORTH AMERICA
– Passenger numbers increased on all Canadian
routes, though competition from other airlines
maintained pressure on yield.
– Strong support from business travellers
to and from the United States raised both
revenue and yield.
– In addition to our daily service via Vancouver,
we launched a daily non-stop service between
Hong Kong and New York. Both flights were
successful with high load factors in first and
business class.
Comments by region are as follows:
NORTH ASIA
– We now operate a daily service to Beijing,
further strengthening Hong Kong’s connections
to Mainland China.
– The introduction of visa-free entry into Japan
spurred demand among Hong Kong leisure
travellers. With an improving Japanese economy,
demand from Japan also increased.
– Competition and additional capacity in the
Taiwan market placed further pressure on yield.
SOUTH WEST PACIFIC AND SOUTH AFRICA
– We launched a third daily service to Sydney,
more than any other airline, and added capacity
to Brisbane and Melbourne. A fourth weekly
service to Perth will commence in 2005.
– Another two flights to Auckland were added
to the winter schedule to make it a 12 times
weekly service.
– The South African market performed well with
high first and business class load factors.
EUROPE
– Load factors to and from Europe remained high
throughout the year with sustained demand from
both leisure and business travellers.
– This demand coupled with favourable currency
movements helped to raise yield, especially
during the second half of the year.
Review of Operations – Passenger Services
10 Cathay Pacific Airways Limited 2004 Annual Report