Cathay Pacific reports significant growth in passenger and cargo traffic for November

Chief Customer and Commercial Officer Lavinia Lau commented on the travel sector: “November was another solid month for our travel business... Travel demand was particularly robust on our routes to Japan and South Korea.” She noted that Hong Kong remained a popular destination for travelers from Southeast Asia.

Lau also addressed the cargo sector: “In terms of cargo, November tonnage was at similar levels to the previous month but was 15% higher year on year.” She highlighted high demand for perishables from regions such as the Americas and Southwest Pacific.

Looking ahead, Lau stated: “As a Group, we are pleased to have successfully completed our two-year rebuilding journey... Together, Cathay Pacific and HK Express will reach 100% of pre-pandemic flights from January 2025.”

Cathay Group projects strong financial results driven by increased cargo demand and reduced fuel prices but notes that these are partially offset by normalizing passenger yields due to increased flight supply.

Additionally, Cathay's interest in Air China was diluted following Air China's issuance of new A shares totaling RMB6 billion.

Lau concluded with optimism regarding future operations: “The Group projects a strong second-half financial result driven by elevated cargo demand and reduced fuel prices.”