Cathay Pacific has reported its passenger numbers for April 2020. The Hong Kong-based carrier recorded decreasing capacity by 97% in response to the global coronavirus pandemic. However, even with this capacity reduction, the passenger load factor was a paltry 21.7%, with a year-on-year decrease of 99.6% when compared to April 2019 numbers.

More numbers for Cathay Pacific

Last month, Cathay Pacific operated a bare skeleton flight schedule to just 14 cities. With demand at its lowest levels in recent memory, Cathay Pacific and its subsidiary Cathay Dragon carried fewer than 500 passengers per day. In total, April 2020 saw 13,729 passengers board a Cathay Pacific or Cathay Dragon flight– 99.6% lower than 2019's data from the same month.

Cathay Dragon
Cathay Dragon primarily operates regional routes from Hong Kong. Photo: Cathay Pacific

Passenger load factor was down 62.3% from April 2019 to 21.7%. Capacity in available seat kilometers (ASKs) was down 97.3%. That was not all, however. When compared to the first four months of 2019, the carrier saw a 64.4% decrease in the number of passengers coupled with a 49.9% decrease in capacity compared to the same time frame the previous year.

Cargo also took a big hit

While many airlines are turning to cargo, Cathay Pacific notched a 48.3% decrease in cargo and mail compared to April 2019. In total, the two airlines carried 84,634 tonnes of cargo last month.

However, with a 44.1% decrease in capacity, Cathay Pacific noted that cargo and mail load factor was up 7.6% to 70.1% compared to April 2019. However, for the first four months of 2020, total tonnage fell 26.6% while capacity dropped similarly by 25.4%.

Cathay Pacific
While Cathay Pacific does have a dedicated cargo fleet, the lack of passenger services meant less cargo being transported in the hold of jets. Photo: Cathay Pacific

Cathay Pacific has been working on conducting cargo-only flights. At the end of April, the carrier started loading cargo in the passenger cabins of 777s. These jets will service long-haul markets for the next few months. However, April's decrease in passenger services meant cargo capacity was down as much capacity comes from freight transported in the hold.

Government-imposed restrictions

Government restrictions hit Cathay Pacific hard. Hong Kong banned transit traffic– something which generally supports Cathay's operations. In addition, Hong Kong is denying entry to non-Hong Kong residents. It is unclear when these restrictions will end. Unfortunately, however, these decisions have been hurting Cathay Pacific, although the government of Hong Kong has provided some financial support for the airline.

cathay at hong kong airport
Hong Kong has banned transit passengers, significantly reducing Cathay Pacific's revenue. Photo: Getty Images

What is the future of Cathay Pacific?

Until Hong Kong lifts its travel restrictions, Cathay Pacific will likely continue to take hits. Most of the airline's fleet is parked, and it does not appear that the recent uptick in travel will extend to Cathay Pacific– for now.

Cathay Pacific grounded getty images
Much of Cathay Pacific's fleet is currently parked. Photo: Getty Images

In May, Cathay expects daily passenger numbers to remain at around 500. Business and leisure passenger numbers have both seen significant hits from this virus. In June, however, the airline does plan on increasing capacity slightly from 3% to 5% compared to 2019's numbers.

With recovery looking a few years away, the airline is looking at shaking up its order book, deferring deliveries, and engaging in sale-and-leaseback agreements to raise short-term cash.

Are you shocked at Cathay Pacific's April passenger numbers, or did you expect this? Did you fly on Cathay Pacific last month? Let us know in the comments!