Hong Kong flag carrier Cathay Pacific on December 14 said that the aviation industry was still miles away from a full recovery, especially as the emergence of the coronavirus Omicron variant posed a renewed risk. The airline said it carried 70,047 passengers in November, 85.2% higher than November 2020 but 97.3% lower than November 2019 before the pandemic.
Cathay Pacific said passenger capacity growth was capped last month by movement restrictions and quarantine measures in Hong Kong and other markets. Ronald Lam, the company’s Chief Customer and Commercial Officer, said Cathay Pacific’s overall travel volume was hurt by slower traffic, especially students travelling from Hong Kong and mainland China to the UK.
Analysts said Omicron would hurt demand for jet fuel in the first half of 2022. Travel restrictions are expected to push Asia-Pacific kerosene/jet fuel use down to just around 520,000 bpd during the period. Earlier this month, the International Air Transport Association (IATA) urged governments to follow WHO’s advice and lift travel bans.
