Cathay Pacific reports strong earnings for 2024 driven by higher passenger volumes

In 2024, Cathay Pacific's revenues reached HK$104.3 billion ($13.4 billion), a 10.5% year-on-year improvement. This was attributed to higher available tonne kilometers (ATK) and available seat kilometers, which increased by 17% and 30.6%, respectively.

Revenue tonne kilometers (RTK) and revenue passenger kilometers (RPK) also saw improvements compared to 2023, with RTK rising by 15.1% YoY and RPK climbing by 26.8%.

Meanwhile, HK Express' ASK and RPK surged by 45.9% and 41.5% YoY respectively. However, both Cathay Pacific's and HK Express' revenue per ASK (RASK) decreased as yields normalized with added capacity.

Cathay Pacific carried .8 million passengers in 2024 while HK Express carried .1 million passengers.

Patrick Healy, Chair of Cathay Pacific said that the group achieved several milestones in .

"I would like to thank the Government," Healy said after announcing that they had fully repaid Hong Kong government for its pandemic bailout.

Healy also announced an investment pledge of up to HK0 billion ($2 billion) coinciding with Hong Kong International Airport's launch of its Three-Runway System (3RS) in November .

"This major new investment programme reflects our absolute commitment [to] the Hong Kong international aviation hub," Healy added.

Ronald Lam CEO of Cathay-Pacific warned about potential challenges ahead due trade conflicts which could pose challenges to-Cargo among other issues- related supply chain delays affecting industry deliveries-

Lam expressed hope that more than destinations would be served-including- enhancements such as new Airbus-A330 cabins-first class experience onboard- incoming Boeing-777-s when delivered-