Cathay Pacific (0293) said its passenger revenue outlook for the coming few months is showing signs of a slowdown despite a solid first half year driven by a good first quarter.
It saw a 5 percent increase in the number of passengers carried and a 3.9 percent drop in cargo and mail uplifted in May, compared to the same month in 2018.
Cathay Pacific director commercial and cargo Ronald Lam said overall passenger demand was strong in May, and growth in travel volume outpaced increases to capacity, though yield remained under pressure due to intense competition. "With declining travel demand, especially with our long-haul destinations, overall yield has come under pressure," Lam said.
Lam added that the cargo business is still affected by geopolitical tensions, resulting in dampened market sentiment.