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Cathay Pacific Sees 9% Rise in Passenger Volumes in July: Platts

JET FUEL

Hong Kong based airline Cathay Pacific expect demand for aviation services such as air travel to receive further support throughput August, cited by Platts.

  • Cathay Pacific’s passenger traffic rose 9.28% on the month and 15.1% on the year to 2m in July, helping to bolster the Asian jet fuel complex.
  • Along January-July, Cathay carried a total of 12.67m passengers, up 32.5% on the year.
  • Meanwhile, Asia’s jet fuel demand surged by 430k b/d in H1 2024 year-on-year, as the region saw the sharpest rise in air travel.
  • However, demand growth is set to taper off in H1 due to the fading impact of demand normalisation after the pandemic.
  • Growth is seen at 270k b/d in H2 2024, and 190k b/d in 2025.
  • Looking at Jet fuel prices, the Platts jet fuel FOB Singapore outright price averaged $98.37/b in July, up from $97.33/b in June and $95.43/b in May.
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