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Cathay Group booked profit growth in 2024
March 13th 2025
Cathay Group, including its airlines, subsidiaries and associates, reported an attributable profit of HK$9,9 billion (US$1.3 billion) in fiscal 2024. Read More » Cathay Pacific passenger revenue increased 11.9% to HK$62.6 billion compared with full-year 2023 the Group said. Available seat kilometres expanded by 30.6% and revenue passenger kilometres were 26.8% higher. Cathay Pacific flew 22.8 million passengers last year, at an average of 62,500 air travellers a day, 26.9% more numerous than in the previous year. Load factor was 83.2% against 85.7% in 2023. Yield decreased 11.8% to HK67.3 cents. Cathay Cargo revenue in the reported 12 months was up 8.3%, to HK$2.4 billion, and available freight tonne kilometres (AFTKs) improved 8.6% as additional passenger capacity released more belly space for cargo. Revenue freight tonne kilometres were better by 5% and total tonnage increased 10.9% to 1.5 million tonnes, the Group said. HK Express passenger revenue was up 9.3%, to HK$6 billion, compared with 2023, capacity expanded 45.9% for the reported 12 months and revenue passenger kilometres increased 41.5%. The LCC transported 6.1 million passengers in 2024, at an average of 16,700 daily, 47.1% more than in full-year 2023. Load factor was 83.4% compared with 86.0% in 2023. Yield decreased 22.8% to HK52.2 cents. “In 2024, we maintained our focus on rebuilding connectivity at the Hong Kong international aviation hub to cater for robust travel demand, culminating in Cathay Group reaching 100% of our pre-pandemic flights from January 2025,” Cathay Group CEO, Ronald Lam, said. “Of course, 2025 and beyond will not be without headwinds. Trade conflicts as they develop could pose challenges to Cathay Cargo. Supply chain challenges continue to affect the entire aviation industry, impacting many airlines, including Cathay Group. Regardless, we will not compromise on the safety and quality of our operations.”
