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Cathay Pacific Reports December Traffic; Expects Return to Pre … – Travel News Asia


(24/01/23)
 
Cathay Pacific carried 801,088
passengers in December 2022, an increase of 768.7% compared with
December 2021, but a 73.3% decrease compared with December 2019.

The month’s revenue passenger kilometres
(RPK) increased 545.2% year-on-year, down 68.4% on
December 2019.

Cathay’s passenger load factor increased by 46.7 percentage
points to 83.3%, while capacity, measured in available seat kilometres (ASK), increased by 183.5% year-on-year,
a decrease of 67.8% compared with pre-pandemic December 2019 levels.

The number of passengers carried in 2022 increased by 291% against a
51.6% increase in capacity and a 258.3% increase in RPK, as
compared with 2021.

Cathay Pacific A330 reg: B-LBK. Picture by Steven Howard of TravelNewsAsia.com Click to enlarge.

Cathay Pacific A330 reg: B-LBK. Picture by Steven Howard of TravelNewsAsia.com

“December saw a drastic uptick in travel demand with
Christmas being the first major holiday since travel restrictions
in Hong Kong were lifted, although we were still only operating
about 32% of pre-pandemic passenger flight capacity levels. We
carried over 25,800 passengers per day on average,” said Chief
Executive Officer, Ronald Lam. “Demand
was overwhelming for travel to short-haul leisure destinations as
we continued to ramp up our frequencies. We also added more
destinations in December, including Sapporo, Fukuoka, Penang and
Dhaka, ending the year with close to 60 destinations in our
network – double the 29 we flew to in January 2022.”

The
airline carried 106,471 tonnes of cargo last month, a decrease of
21% compared with December 2021, and a 40% decrease compared with
the same month in 2019.

The month’s cargo revenue tonne
kilometres (RFTK) decreased 22.6% year-on-year, a drop of 34%
compared with December 2019.

Cargo load factor decreased by
16.9 percentage points to 67.3%, while capacity, measured in
available cargo tonne kilometres (AFTK), decreased by 3.2%
year-on-year and 35% on December 2019.

In FY2022, tonnage decreased by 13.4% against a 19%
decrease in capacity and a 29.8% decrease in RFTK, as compared
with 2021.

“In terms of cargo, overall market demand
continued to be flat in December, as was the case for the fourth
quarter. Tonnage saw a mild month-on-month increase of 3% against
a 4% increase in cargo flight capacity. Overall in December, we
operated 65% of pre-pandemic cargo flight capacity levels,” said
Mr. Lam.

Cathay Pacific’s FY2022 Financial Performance

Based on a
preliminary review of unaudited consolidated management
accounts, the Cathay Pacific Group is expected to record a
consolidated loss attributable to shareholders of approximately
HK$ 6.4 – 7 billion. This compares to the attributable loss to
shareholders of HK$5.5 billion for the year ended 31 December
2021.

H2 2022 results for the group’s airlines
and subsidiaries were a marked improvement over the H1
2022 results, although still a small loss overall for FY2022. However, the results from associates, the majority
of which are recognised three months in arrears, and which in some
cases have already been announced, include significant losses.

“I am very encouraged to see a trend of
continuous improvement in our operations and financial performance
for our airlines and subsidiaries in the second half of 2022,” Mr.
Lam said.
“Progressive relaxations to travel restrictions and quarantine
requirements in Hong Kong enabled us to be operating cash
generative overall in the second half of 2022.”

Cathay
Pacific is expected to publish its
annual results in March 2023.

Looking Ahead

“Looking ahead into 2023, we are very
excited to be firmly on the path to rebuilding Cathay Pacific and
the Hong Kong international aviation hub. Nevertheless, challenges
still remain and we are taking a measured and responsible approach
to our rebuilding efforts,” said Mr. Lam. “We remain fully committed to restoring
connectivity and capacity at our home hub. As a Group, which
includes passenger airlines Cathay Pacific and HK Express, we
anticipate we will be operating about 70% of pre-pandemic
passenger flight capacity by the end of 2023 with the aim of
returning to pre-pandemic levels by the end of 2024.

“In
terms of passenger travel, we expect demand will continue to be
strong in January and the Chinese New Year period, driven by
leisure traffic from Hong Kong. Following the return of
quarantine-free travel between Hong Kong and the Chinese Mainland,
we are continuing to add more flights and more destinations as
quickly as is feasible. We aim to operate more than 100 return
flights per week to and from 14 cities in the Chinese Mainland by
the end of February.

“Concerning cargo, the easing of
restrictions for cross-border trucking between Hong Kong and the
Chinese Mainland is welcome news. On the other hand, with COVID-19
still impacting various parts of the country, coupled with Chinese
New Year occurring in January, the air cargo market will continue
to experience challenges until mid-February. We will remain agile
in our response to these new challenges.”

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Global Virtual Reality Services Market Is Projected To Grow At A 15% Rate Through The Forecast Period – EIN News

The Business Research Company’s Virtual Reality Services Market Report 2023 – Market Size, Trends, And Market Forecast 2023-2032

Virtual Reality Services Global Market Report 2023 – Market Size, Trends, And Market Forecast 2023-2032

The Business Research Company’s Virtual Reality Services Global Market Report 2023 – Market Size, Trends, And Market Forecast 2023-2032

LONDON, GREATER LONDON, UK, February 2, 2023 /EINPresswire.com/ — The Business Research Company’s “Virtual Reality Services Global Market Report 2023” is a comprehensive source of information that covers every facet of the virtual reality services market. As per TBRC’s virtual reality services market forecast, the global virtual reality services market size is expected to grow to $18.75 billion in 2027 at a CAGR of 14.6%.

The growth in the virtual reality services market is due to the virtual reality services in telehealth. Asia-Pacific region is expected to hold the largest virtual reality services market share. Major players in the virtual reality services market include Skywell Software, LittlStar, Creative Solutions, Gramercy Tech, HQSoftware, Program Ace.

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Trending Virtual Reality Services Market Trend
Remote shopping with virtual reality is a key trend in the virtual reality services market. Many people are not doing offline shopping due to isolation and quarantine with the global COVID-19 outbreak and that does not mean e-commerce companies must also stop communicating with their customers and clients. Virtual reality alternatives opened great chances where businesses can offer potential customers new buying experiences without preventing their outreach. E-commerce companies could now reframe the experience for the customers and redesign their shopping journeys by using VR services.

Virtual Reality Services Market Segments
• By Type: Hardware, Software
• By Basis of Service: Consulting, Training, Implementation, Integration, Operation, Maintenance
• By Application: Healthcare, Education, Real Estate, Advertising, Travel, Gaming, Entertainment, Other Applications
• By Geography: The global virtual reality services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

Read more on the global virtual reality services market report at:
https://www.thebusinessresearchcompany.com/report/virtual-reality-services-global-market-report

Virtual reality (VR) is an artificial environment created with software that is presented to the user in such a way that the user stops believing and accepting it as a real environment.

Virtual Reality Services Global Market Report 2023 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Virtual Reality Services Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides virtual reality services global market research insights on virtual reality services global market size, drivers and trends, virtual reality services global market major players, virtual reality services global market share and competitors’ revenues, market positioning, and virtual reality services global market growth across geographies. The virtual reality services market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

Browse Through More Similar Reports By The Business Research Company:
Virtual Reality Software Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/virtual-reality-software-global-market-report

Virtual Reality Software And Services Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/virtual-reality-software-and-services-global-market-report

Virtual Reality In Education Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/virtual-reality-in-education-global-market-report

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The Global Market Model, The Business Research Company’s flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess supply-demand gaps.

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Etihad Airways to Increase Flights to Frankfurt, Germany – Travel News Asia


(02/02/23)
 
Etihad Airways has unveiled plans to increase
flights between Abu Dhabi and
Frankfurt, Germany.

From 1 May, the airline will add an extra four
services a week to its current daily frequency, bringing the total
number of flights to Frankfurt up to 11 weekly.

The additional
flights will be operated with Boeing
787 Dreamliner aircraft featuring 28 seats in Business Class and 262 in Economy
Class.

Etihad Airways Boeing 787-9 reg: A6-BLG. Picture by Steven Howard of TravelNewsAsia.com Click to enlarge.

Etihad Airways Boeing 787-9 reg: A6-BLG. Picture by Steven Howard of TravelNewsAsia.com

Although famed for its financial activities,
Frankfurt has a rich cultural history too and the old town with
its half-timbered houses, cathedral, museum embankment and Goethe House are popular with the thousands of tourists the
city welcomes each year.

Customers flying to or from Frankfurt with Etihad
can use the airline’s Rail & Fly service to travel by train from
any station on the Deutsche Bahn or SNCF network.

Arik De, Chief Revenue Officer of Etihad Airways,
said, “We are pleased to offer our guests more flights to
Frankfurt, one of Europe’s most important airports. The increase
in frequency also means greater connectivity to our growing
network and the opportunity to welcome more visitors to Abu Dhabi
where they can enjoy our world-renowned hospitality, culture,
leisure activities and cuisine.”

The airline will also

resume flights to Düsseldorf from 1 October
.

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Marriott Expands AC Hotels Brand to China 
British Airways to Launch Flights Between London Heathrow and Florence, Italy 
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Saudia Links Transit Visas to Flight Tickets – Travel News Asia


(02/02/23)
 
Saudia, the national flag carrier of Saudi
Arabia, has launched a digital integration system that links
transit visas with flight tickets.

The innovative “Your Ticket, Your Visa” solution
has been introduced in collaboration with the Ministry of
Foreign Affairs, the Ministry of Interior, the Ministry of Hajj
and Umrah, the Pilgrims Service Program, and the Saudi Tourism
Authority.

The new service, which covers all international
airports in Saudi Arabia, will allow guests to stay in the Kingdom
for up to 96 hours, during which they can travel around and perform Umrah.

Your Ticket, Your Visa links transit visas with Saudia's flight tickets. Click to enlarge.

Your Ticket, Your Visa links transit visas with Saudia’s flight tickets

The digital integration with the
Ministry of Foreign Affairs facilitates the issuing of the transit
visa and links it to the flight ticket within three minutes.

“The launch of
this innovative and seamless Stopover Visa is the first of its
kind in the aviation industry and a significant milestone in our
digital transformation program,” said Captain Ibrahim Koshy, CEO of Saudia.
“It is a testament to Saudia’s
commitment to supporting the Kingdom’s strategic goal of reaching
100 million visits by 2030 and we are confident it will positively
impact the growing number of transit passengers while enhancing
our position as a hub that connects East and West. The new service
will also encourage passengers to perform Umrah, visit key destinations and attend events and Saudi seasons.”

The
launch of the new service comes in line with Saudia’s commitment
to promote King Abdulaziz International Airport in Jeddah and
strengthen its role in the region by configuring the airline’s flights
coming from the east and departing to the west, facilitating
travel procedures by collaborating with the Jeddah Airports
Company, and coordinating with the Saudi Tourism Authority to
provide incentive packages for those wishing to benefit from “Your
Ticket, Your Visa” service.

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