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Cathay Pacific Airways Limited

FOR IMMEDIATE RELEASE 19 April 2002

Cathay Pacific Announces March 2002 Traffic Figures

Cathay Pacific Airways today released traffic figures for March 2002 showing small but positive passenger growth and a marked improvement in cargo traffic. The airline carried 1,052,460 passengers in the month of March, a 0.9% increase on the same month last year, and 73,018 tonnes of freight, up 11.4% from March 2001.

The volume of passenger traffic for March 2002 measured in terms of revenue passenger kilometres (RPK) rose by 1.8% against the same month last year, helped by stronger demand on regional routes. The passenger load factor for the month was 83.1% and the cargo load factor was 76.0%.

The high reported load factors reflect the effects of the modest recovery in demand combined with capacity reductions, particularly on ultra-long-haul routes. Cathay Pacific operated 4.2% fewer flights in March compared to a year ago. Cargo capacity measured in terms of available cargo tonne kilometres was down 3.3% from March 2001 for similar reasons.

Cathay Pacific General Manager Revenue Management, Sales & Distribution Ian Shiu said: "March, traditionally a good month for cargo, was helped by a rebound in exports to the U.S., though imports remain weak. On the passenger side of the business, people are travelling again but the market remains highly competitive. Average fares are much lower than last year, reflecting aggressive discounting and continued weakness in demand for front-end business travel."

TRAFFIC

March 2002

% change
vs Mar01

Cumulative
March 2002

Cumulative
March 2001

% change

RPK (000)

- Europe

1,025,593
2.6%
2,656,620
2,742,262
-3.1%

- Pacific and South Africa

1,596,622
0.1%
4,807,739
4,704,146
2.2%

- North Asia

663,000
-1.2%
1,858,922
1,881,204
-1.2%

- Southeast Asia and Middle East

866,387
6.6%
2,389,267
2,203,924
8.4%

RPK Total (000)

4,151,603
1.8%
11,712,549
11,531,537
1.6%

Pax carried

1,052,460
0.9%
2,956,608
2,906,061
1.7%

Cargo and mail tonne km (000)

382,533
5.9%
992,401
921,123
7.7%

Freight carried (000 kg)

73,018
11.4%
186,595
171,008
9.1%

Number of flights

2,171
-4.2%
6,347
6,396
-0.8%

CAPACITY

March 2002

% change
vs Mar01

Cumulative
March 2002

Cumulative
March 2001

% change

ASK (000)

- Europe

1,102,550
-13.0%
3,178,440
3,703,235
-14.2%

- Pacific and South Africa

1,858,794
-17.7%
5,646,493
6,564,192
-14.0%

- North Asia

906,260
4.8%
2,651,174
2,510,006
5.6%

- Southeast Asia and Middle East

1,127,578
-6.1%
3,335,097
3,382,197
-1.4%

ASK Total (000)

4,995,181
-10.7%
14,811,204
16,159,630
-8.3%

Passenger load factor
83.1%
10.1pt
79.1%
71.4%
7.7pt

Available cargo/mail tonne km (000)

503,410
-3.3%
1,431,698
1,404,521
1.9%

Cargo and mail load factor

76.0%
6.7%
69.3%
65.6%
3.7%

ATK(000)
978,694
-7.0%
2,840,803
2,941,637
-3.4%
Source: Cathay Pacific Airways Limited
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