BRIEF-Cathay Pacific Airways Says Passenger Yield Under Further Pressure In August

Cathay Pacific Airways Ltd: * AUG CATHAY PACIFIC AND CATHAY DRAGON CARRIED A TOTAL OF 2,906,954 PASSENGERS LAST MONTH - A DROP OF 11.3% COMPARED TO AUGUST 2018

* AUGUST CATHAY PACIFIC AND CATHAY DRAGON PASSENGER LOAD FACTOR DECREASED BY 7.2 PERCENTAGE POINTS TO 79.9% * AUGUST WAS AN INCREDIBLY CHALLENGING MONTH, BOTH FOR CATHAY PACIFIC AND FOR HONG KONG

* OUTLOOK FOR SEPTEMBER IS SLIGHTLY MORE POSITIVE AND WE EXPECT TO SEE DEMAND PROGRESSIVELY IMPROVE * GIVEN CURRENT SIGNIFICANT DECLINE IN forwarding BOOKINGS FOR REMAINDER OF YEAR, TO MAKE SHORT-TERM TACTICAL MEASURES

* "WE REMAIN OPTIMISTIC IN MEDIUM TERM" * AUGUST INBOUND HONG KONG TRAFFIC DOWN 38% WHILE OUTBOUND DOWN 12% YOY, DON'T ANTICIPATE SEPTEMBER BEING ANY LESS DIFFICULT

* AUG CATHAY PACIFIC AND CATHAY DRAGON CARGO AND MAIL LOAD FACTOR FELL BY 7.5 PERCENTAGE POINTS TO 60.9% * REDUCING CAPACITY GROWTH TO BE SLIGHTLY DOWN YOY FOR 2019 WINTER SEASON VERSUS ORIGINAL GROWTH PLAN OF MORE THAN 6% FOR PERIOD

* GIVEN CURRENT SIGNIFICANT DECLINE IN forwarding BOOKINGS FOR REMAINDER OF YEAR, TO MAKE SHORT-TERM TACTICAL MEASURES * IN AUGUST, DEMAND FOR PREMIUM CLASS TRAVEL EXPERIENCED A MORE SIGNIFICANT DROP RELATIVE TO LEISURE TRAVEL

* AUG INBOUND TRAFFIC DEMAND TO HONG KONG FROM REGIONAL MARKETS, PARTICULARLY MAINLAND CHINA AND NORTHEAST ASIA, WAS SEVERELY HIT * DUE TO REDUCED TRAVEL DEMAND, INCREASED MIX OF TRANSIT PASSENGERS & STRENGTHENING USD, PASSENGER YIELD UNDER FURTHER PRESSURE IN AUG Source text for Eikon: Further company coverage:

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