Search Results forcathay
Cathay Group releases March 2025 traffic report
The Cathay Group today released its traffic figures for March 2025 today, 23rd April. Chief customer and commercial officer Lavinia Lau pointed out how the group continues to make good progress towards exceeding 100 passenger destinations within the first half of this year, particularly with the resumption of Cathay Pacific’s non-stop service to Hyderabad last month. This month, five new destinations are joining the Group’s global network, with Cathay Pacific launching services to Dallas and Urumqi in the coming days, and HK Express launching flights to Nha Trang, Ishigaki and Komatsu. HK Express has also recently announced the addition of Changzhou and Yiwu to its network in May. Lau said: “While March marked a quieter month for our travel business, our cargo business saw strong growth momentum as we entered the first traditional cargo peak of the year. However, the latest developments on trade tariffs are creating uncertainties that may cause disruptions to our cargo business, changes in travel demand, increased costs and pressure on supply chains, among other impacts. We are taking proactive steps to put ourselves in the best possible position in facing and mitigating these external forces as we remain aligned, agile and responsive in our approach.” Cathay Pacific performance in March Cathay Pacific carried 19.8 percent more passengers in March 2025 compared with March 2024, while Available Seat Kilometres (ASKs) increased by 25.5 percent. In the first three months of 2025, the number of passengers carried increased by 23.4 percent compared with the same period for 2024. Lau explained: “While we saw softer demand for leisure travel in March due to the absence of long-weekend holidays in Hong Kong, demand for our premium cabins remained robust, driven by various mega-events and exhibitions in the city such as the Hong Kong International Jewellery Show and Art Basel Hong Kong.” Sports tourism also proved to be a boon for the airline, given how the Cathay/HSBC Hong Kong Sevens also generated strong inbound demand to Cathay Pacific’s home hub, particularly on a number of long-haul routes. Lau also proudly declared: “To commemorate the Sevens’ debut at the brand-new Kai Tak Sports Park and the 100th anniversary of Kai Tak Airport, which had been Cathay Pacific’s home for many decades, we were proud to stage a special flypast on the last day of the Sevens to mark our return to Kai Tak.” For this month and beyond, Lau pointed out that the airline experienced healthy demand over the Easter holiday. She said: “In addition, we are delighted to have recently announced that Cathay Pacific will be one of the very few airlines to offer both 100 percent seatback inflight entertainment and 100 percent high-speed inflight Wi-Fi connectivity across its fleet from August 2025.” How the cargo arm fared in March Cathay Cargo carried 10.6 percent more cargo in March 2025 than in March 2024. Available Freight Tonne Kilometres (AFTKs) increased by 8.5 percent while load factor decreased by 1.2 percentage points year on year. In the first three months of 2025, the total tonnage increased by 12% compared with the same period for 2024. According to Lau: “Specialist solutions continue to be our area of focus. We saw notable growth in Cathay Priority during the quarter end and are pleased to have launched our refreshed Cathay Fresh solution to provide a high-quality, dependable and consistent service for transporting perishables.” Cathay Cargo also achieved an industry first with its new intermodal cold-chain route via the Hong Kong–Zhuhai–Macao Bridge, delivering chilled seafood from Southeast Asia into the Greater Bay Area through its hub in Hong Kong. Lau said: ”We expect a softening of general air cargo demand between the Chinese Mainland and the United States due to the ongoing tariff situation and de minimis rule changes from early May. However, our network strength and flexibility in redeploying our freighters will allow us to adapt and redirect our focus to emerging opportunities. We will stay close to the market and monitor the developments vigilantly.” HK Express in March The Group’s low-cost carrier HK Express carried more than 610,000 passengers in March, marking an increase of 25.4 percent year on year, while Available Seat Kilometres (ASKs) grew by 35.6 percent. In the first three months of 2025, the number of passengers carried increased by 34.3 percent compared with the same period for 2024. Lau concluded her report by saying: “HK Express maintained its growth momentum in March, announcing more new destinations and adding flight capacity. Looking ahead at April onwards, we have seen solid demand over the Easter holiday amid a slower pickup for pre-summer and peak summer bookings with more customers booking closer to their departure dates.”
Cathay Pacific Revolutionizes Inflight Entertainment and Connectivity
Cathay Pacific is soaring to new heights with a game-changing announcement: starting August 2025, the airline will proudly offer 100% seatback inflight entertainment (IFE) and 100% high-speed Wi-Fi connectivity on every aircraft across its fleet. This unprecedented move cements Cathay Pacific’s position as a leader in innovation and premium air travel. Unmatched Entertainment and Connectivity Cathay Pacific customers will be treated to state-of-the-art inflight entertainment in every cabin on every route. With the airline’s award-winning IFE system and seamless Wi-Fi, travelers can immerse themselves in endless entertainment options or stay connected with loved ones and colleagues while they cruise through the skies. The airline’s General Manager of Customer Experience Design, Guillaume Vivet, shared his enthusiasm: “This significant milestone reflects Cathay Pacific’s long-standing commitment to and leadership in innovation and customer-centric design. Whether for business or leisure, our customers will soon have access to both award-winning entertainment and unparalleled connectivity onboard all of our flights, making their journeys as memorable as their destinations.” A Legacy of Excellence Since introducing seatback IFE back in 1992, Cathay Pacific has continually pushed the boundaries to enhance the travel experience. The recent addition of 4K HDR screens ensures a more immersive and visually stunning viewing experience, with ultra-high-definition clarity and vivid colors. Customers can enjoy a carefully curated entertainment library, featuring exclusive branded content tailored to their tastes. For those flying in First or Business Class, as well as Cathay Diamond members, the experience is even sweeter—complimentary Wi-Fi ensures a seamless connection throughout their journey. Celebrating Innovation Cathay Pacific’s inflight innovations haven’t gone unnoticed. The airline has been honored with prestigious accolades, including the German Design Award for “Excellent Communications Design ‒ Interactive User Experience” and the Red Dot Award for “Brands & Communication Design ‒ User Interface Design.” These recognitions reaffirm Cathay Pacific’s dedication to exceptional design and customer satisfaction. Looking Ahead As the countdown begins to August 2025, Cathay Pacific remains steadfast in its aspiration to become the world’s best premium airline. Whether you’re catching up on your favorite series, streaming your latest playlist, or working on a big presentation mid-flight, Cathay Pacific promises an unforgettable travel experience. For more details, visit www.cathaypacific.com.
Cathay Group releases 2024 Sustainability Report
Cathay announced the release of its 2024 Sustainability Report today, 8th April. The information contained within this report reflects the Cathay Group’s steady progress in its sustainability journey and reaffirming its commitment to long-term sustainable development. As the Cathay Group moves into its next phase of growth, sustainability remains a key priority. According to group CEO Ronald Lam: “Having successfully completed our two-year rebuilding journey, we have now set our sights on growth and development, where sustainability remains an area where we aspire to lead and is at the forefront of our path forward.” Centred on climate change Lam pointed out that Cathay’s environmental focus continues to be on climate change and a circular economy. He said: “As a pioneer and early adopter of sustainable aviation fuel (SAF), we continue to work towards fostering a local SAF ecosystem and expanding SAF usage globally, while acknowledging the challenges and opportunities ahead.” Cathay is also embracing the shift towards responsible use of resources by continuously reducing its reliance on single-use plastics (SUP) and exploring packaging alternatives. Beyond its ongoing environmental efforts, the Cathay Group also remains committed to its deep roots in Hong Kong, enriching our communities through youth, sports, and arts initiatives even as it sets its sights on future growth by attracting, developing and retaining a strong pipeline of global talent. Fostering a local SAF ecosystem Cathay reports that it launched a landmark tripartite SAF partnership with HSBC Hong Kong and EcoCeres, enabling SAF usage from Hong Kong International Airport while demonstrating the potential of fostering an SAF system in Hong Kong. It also co-initiated the Hong Kong Sustainable Aviation Fuel Coalition (HKSAFC), a multi-stakeholder group, to drive SAF policy development and adoption in Hong Kong. Globally, Cathay’s Corporate SAF Programme recorded a 22-fold increase in SAF usage compared to its launch in 2022. A prime mover in a circular economy and an evolving community Moreover, Cathay Pacific reduced its passenger-facing SUP items to an average of 2.6 pieces. The airline also set two new secondary SUP targets for 2025: increasing inflight recycling of water bottles to 33 percent and ensuring at least 50 percent of the remaining passenger-facing SUP items are made with recycled plastics. Working towards its goals, Cathay Pacific introduced a first-of-its-kind workflow for recycling plastic bottles and cans at Hong Kong International Airport. 2024 also marked the 20th anniversary of Cathay’s flagship youth development programme I Can Fly with its return after a five-year hiatus, expanding the initiative to include an exchange tour in the wider Greater Bay Area.
WestK and Cathay launch “WestK in the Sky”
The West Kowloon Cultural District Authority (WKCDA or the Authority) launch a new video series, “WestK in the Sky”, in collaboration with its exclusive Travel Partner, Cathay. The videos are now available on the in-flight entertainment system across Cathay Pacific’s extensive passenger network, reaching travellers from around the globe to promote Hong Kong's arts and cultural scene. This new video initiative builds on the three-year partnership between WestK and Cathay signed in 2023, reinforcing their shared vision to promote Hong Kong's premium arts scene and cultural landscape to global travellers and boost the city’s standing as a cultural tourism hub. Produced by WestK, the video series explores the unique programmes, exhibitions and experiences staged by the Hong Kong Palace Museum, M+ and the Performing Arts Division of WestK through creative storytelling, showcasing both WestK and Cathay’s role in promoting Hong Kong's artistic excellence. Six episodes were launched from 1 April, starting with “A Unique Cultural Mission”, in which renowned host and artiste Do Do Cheng visits the Hong Kong Palace Museum in the West Kowloon Cultural District and Cathay City to engage in inspiring conversations with Betty Fung, Chief Executive Officer of WKCDA, and Ronald Lam, Chief Executive Officer of the Cathay Group, exploring their shared mission to promote the excellence of Hong Kong’s arts, culture and creative industries. Other episodes include: “Inside Hong Kong Palace Museum”: Museum Director Dr Louis Ng unveils the Museum's stunning architecture, captivating exhibitions and innovative digital initiatives and multi-media experiences. “Inside M+”: Museum Director Suhanya Raffel is joined by Artistic Director and Chief Curator Doryun Chong to guide viewers around M+, Asia’s global museum of contemporary visual culture in Hong Kong, and learn more about its diverse collections and exhibitions. “A Dazzling Fashion Journey”: Acclaimed singer and fashion icon Karen Mok explores three centuries of French fashion at the Hong Kong Palace Museum. Lending her voice to the audio guide for the 2024 exhibition "The Adorned Body: French Fashion and Jewellery 1770–1910 from the Musée des Arts Décoratifs, Paris", Ms Mok takes the audience on a journey through this exquisite collection of historical costumes and accessories. “M+ Facade: A Canvas of Light”: One of the world’s largest LED screens, the M+ Facade presents a stunning display against the backdrop of Hong Kong’s famous skyline, turning the museum's tower frontage into a vibrant, dynamic canvas that acts as a curatorial space and digital exhibition platform. This video introduces various past commissions and reveals the best locations to view the works. “When Jazz meets Cantopop”: The Patrick Lui Jazz Orchestra joined forces with Cantopop icons RubberBand at Freespace Jazz Fest 2024, one of WestK's signature music events, to reimagine music from classic Hong Kong films. This episode reveals the creative journey behind this unprecedented collaboration, offering viewers an intimate look at how jazz and pop music were brought together in an inspiring way. Ronald Lam, Cathay Group Chief Executive Officer, said: “We are excited to launch 'WestK in the Sky' in collaboration with the West Kowloon Cultural District Authority on Cathay Pacific’s award-winning in-flight entertainment system. The collaboration not only allows us to highlight the allure of Hong Kong through compelling storytelling, but also underscores Cathay’s vital role in promoting the long-term and sustainable development of Hong Kong’s arts and culture. I am thrilled to have had the opportunity to participate in the first episode, sharing stories of Cathay’s support for the WKCDA’s various exhibitions and performing arts programmes with our customers around the globe, and our joint commitment to strengthening Hong Kong’s position as an East-meets-West centre for international cultural exchange." Betty Fung, Chief Executive Officer of the West Kowloon Cultural District Authority, said, “We are grateful for the staunch support from Cathay to provide a global platform that enables international travellers to experience WestK’s unique offerings through the ‘WestK in the Sky’ video series. WestK attracts more than 10 million visitors from around the world every year and we look forward to welcoming even more global audiences through Cathay Pacific's extensive passenger network, allowing them to explore our diverse arts and cultural offerings and promoting local and international artistic and cultural exchange.” Do Do Cheng expressed her delight at being able to participate in the “WestK in the Sky” video series. “WestK stands one of the world's largest cultural projects and Hong Kong's newest cultural landmark, while Cathay is a prestigious lifestyle brand deeply rooted in Hong Kong's premium travel sector. As a homegrown artiste, I am delighted to be part of this project, collaborating with these two iconic Hong Kong brands to showcase our city's vibrant cultural energy to a global audience.” WKCDA and Cathay announced a three-year partnership in 2023, with Cathay becoming the Authority’s exclusive Travel Partner. The partnership with Cathay supports WestK in various ways, including the provision of air services for transporting exhibits for exhibitions organised by the Hong Kong Palace Museum and M+, and for the inbound and outbound travel oflocal and overseas artists participating in WestK’s performing arts programmes.
Cathay Pacific resumes non-stop service from Hyderabad
Cathay Pacific continues to strengthen its network in India with the resumption of its non-stop passenger service from Hyderabad, the capital city of India’s Telangana state. The resumption took flight on Monday, 31st March, and the service operates thrice a week, specifically on Mondays, Thursdays, and Sundays. This ensures seamless travel connections for customers to Hong Kong and beyond. With this resumption, Cathay Pacific is now operating across five Indian cities: Delhi, Mumbai, Bengaluru, Chennai, and Hyderabad. By doing so, the airline cements its role as a key carrier connecting India to its home hub in Hong Kong. The resumption of flights from Hyderabad further underscores the significance of India to Cathay Pacific’s global network. The direct service is being operated by the airline’s Airbus A330-300 aircraft, featuring Business and Economy cabins. Cathay Pacific now operates a total of 39 return passenger flights per week from five destinations in India. This will rise to 43 return flights per week by 1st September, including five flights per week from Hyderabad, double-daily flights from Delhi, ten flights per week from Mumbai, and daily flights from Bengaluru and Chennai. A step in the right direction According to Rakesh Raicar, Cathay’s regional general manager for South Asia, the Middle East, and Africa: “Resuming flights to Hyderabad is a significant step in our India expansion strategy. With this resumption, we remain committed to providing Indian travellers with more choice, greater connectivity, and world-class service.” Raicar added that Hyderabad’s economic rise and growing outbound travel demand make it a vital addition to the airline’s global network. He said: “As we continue to enhance our operations, our focus remains on fostering connections: bringing people, businesses, and economies closer, while reinforcing Hong Kong’s position as a leading international aviation hub.” GMR Hyderabad International Airport Ltd CEO Pradeep Panicker likewise expressed his enthusiasm at the route resumption by saying: “The resumption of direct flight services between Hyderabad and Hong Kong represents a significant milestone in our international connectivity. This development will facilitate stronger business ties, tourism, and cultural exchange between these two dynamic regions. Additionally, the resumption introduces valuable belly cargo capacity, allowing us to offer more time-bound solutions for the Hyderabad market, particularly benefiting time-sensitive products such as perishables, mail, and courier services.”
Cathay Cargo Terminal achieves IATA Security Management System (SeMS) certification
Cathay Cargo Terminal announced that it has become the first ground-handling organisation in Asia to successfully achieve the International Air Transport Association (IATA) Security Management System (SeMS) certification, attaining Operating Status — the highest possible tier for a first-time SeMS certification. IATA SeMS provides a structured framework for proactively managing regulatory compliance, security risks, threats, and vulnerabilities. Organisations who take an SeMS approach work to continuously improve security measures, emphasising risk-based and data-driven strategies to overcome new, existing and evolving threats. Cathay Cargo Terminal Chief Operating Officer Mark Watts said: “Security is foundational for any airport cargo terminal, and we are proud to be recognised by IATA for our strong commitment to all areas of security. Our recent use of AI to augment intruder detection and unattended cargo detection, as well as our significant investments in cybersecurity underscore our proactive approach to keeping our customers’ equipment, cargo, and data safe.” Cathay Cargo Terminal was commended for demonstrating well-defined security policies, active leadership involvement, and robust regulatory compliance mechanisms. IATA Senior Vice President, Operations, Safety and Security Nick Careen said: “Achieving IATA's Security Management System (SeMS) Certification (Operating Status) is a testament to Cathay Cargo Terminal’s dedication to proactive and risk-based security management. By embedding SeMS principles into its operations, Cathay Cargo Terminal reinforces and strengthens its overall security framework and also contributes to the broader goal of modernising aviation security through proactive continuous improvement and industry-wide collaboration. This is not only a significant milestone for Cathay Cargo Terminal, but also another strong milestone for the entire aviation industry, showcasing the importance of robust security measures and collaborative efforts in enhancing global aviation security.” Cathay Cargo Terminal will be presented with the formal SeMS certificate at a special ceremony during the IATA World Cargo Symposium in Dubai on 15 April. The organisation was also one of the first cargo-handling companies in Asia to achieve the IATA Environmental Assessment (IEnvA) certification and recently renewed its IATA Competency-Based Training and Assessment (CBTA) certification for Dangerous Goods. Cathay Cargo Terminal also holds all four IATA Centre of Excellence for Independent Validators (CEIV) certifications — Fresh, Pharma, Live Animals and Lithium Batteries.
Cathay’s flagship youth development programme, I Can Fly, kicks off with a new format
Cathay’s long-standing commitment to promoting youth development in Hong Kong was on full display as it kicked off its flagship community service initiative, I Can Fly, which aims to inspire young people to pursue their dreams in aviation while contributing positively to society. This year’s edition of I Can Fly sees a refreshed format with activities throughout 2025 centred on Education, Discovery and Exploration, in addition to incorporating social service. Across the entire I Can Fly programme, Cathay will empower some 2,000 young people between the ages of 10 and 18 to pursue their dreams. Cathay kicked off the programme today with two consecutive I Can Fly Aviation Explorer Days organised with the support of the Hong Kong SAR Government’s Strive and Rise programme and a number of other community engagement partners. In total, 870 students from underprivileged backgrounds enjoyed an unforgettable opportunity to explore the world of aviation across the two Aviation Explorer Days, supported by 70 volunteers from across Cathay. Under Secretary for Transport and Logistics Liu Chun-san was welcomed as the guest of honour by Cathay Director People Patricia Hwang, who is also the Star Mentor of the Government’s Strive and Rise programme for the second consecutive year. Under Secretary Liu said: “Cathay’s I Can Fly programme is a meaningful initiative that not only broadens the participants' horizons, but also ignites their courage to pursue their aviation dreams. Quite a number of the locally trained pilots are also graduates of this programme, which is not just an ‘orientation course to aviation’, but also a ‘dream factory for aviation’. This weekend's Aviation Explorer Days not only give participants a chance to appreciate the external allure of flying but also delve deeper into uncovering its inner mysteries, offering a glimpse into the behind-the-scenes operations of the aviation industry, and discovering the endless possibilities in store for them. “I would like to extend my thanks to all industry partners in support of the initiative, as well as to the Cathay volunteers and mentors from the Strive and Rise Programme. I hope all participants will embrace their curiosity and passion to explore boldly and carve out their own paths in the skies." Cathay’s Patricia Hwang said: “It gives me great pleasure to welcome all of our participating students to our Aviation Explorer Days as we kick off our flagship I Can Fly programme for 2025. We sincerely hope that their experiences will further ignite their passion for aviation, motivate them to consider pursuing a career in this exciting and dynamic industry, and inspire them to create positive change in society. “With our deep roots in Hong Kong, Cathay is committed to being a force of positivity for our community, focusing on the advancement of youth development, sports, and arts and culture to create a brighter future for all. I would like to extend my sincere appreciation to all of our volunteers, the Government and our partners for their invaluable support in making these fantastic occasions possible.” As part of its Exploration pillar, Cathay will host I Can Fly Aviation Explorer Days throughout the year. These experiences include tours of the airport area, including Cathay City, Cathay Dining, Cathay Cargo Terminal and Cathay Academy, as well as talks about the history of the aviation industry, and career mentorship. Cathay Director People Patricia Hwang, who also serves as the Star Mentor of the Government’s Strive and Rise programme for the second consecutive year, and three fellow colleagues shared their… As part of the Aviation Explorer Days, participants had the opportunity to visit Cathay Cargo Terminal, learning about the work settings of the various job roles within the aviation industry. In addition, the Education pillar will feature the I Can Fly Youth Academy, a five-month aviation training course, while the Discovery pillar will offer an unforgettable experience with the I Can Fly Discovery Flight towards the end of the year. These initiatives provide unique experiences for Hong Kong’s young people to gain a better understanding of the world of aviation and the many different career opportunities available, while also nurturing future talent for the industry to strengthen Hong Kong’s international aviation hub status. I Can Fly was first launched in 2003 and aims to empower Hong Kong’s youth by igniting their dreams and ambitions, enabling them to explore endless possibilities. Over 4,400 students have graduated from the programme since its inception, with some alumni pursuing careers in aviation, illustrating the programme's effectiveness in shaping futures and creating opportunities.
Cathay Group releases February 2025 traffic report
The Cathay Group released its traffic figures for Cathay Pacific, HK Express, and Cathay Cargo on Thursday, 20th March. February marked another positive month for the Cathay Group, as traffic figures were driven by the return travel peak over the Lunar New Year holiday. Cathay Pacific and HK Express jointly set a new post-pandemic record on 2nd February by carrying more than 111,000 passengers on a single day. Cathay’s chief commercial and customer officer Lavinia Lau added:”We are pleased to be adding even more exciting new destinations to our expanding global network as we move closer to exceeding 100 passenger destinations within this year.” Cathay Pacific will be launching flights to Hyderabad at the end of March, and also recently announced a new non-stop service to Urumqi starting from 28th April. Meanwhile, HK Express also announced new flights to Komatsu from 24th April, Cheongju from 5th June, Daegu from 6th June, and Miyako (Shimojishima) from 27 June. In total, 13 new destinations have already been announced for 2025, with more to come. Lau said: “In addition, we were proud to have our achievements in cargo and sustainability recognised recently with two prestigious awards from Air Transport World. Cathay Cargo earned the title of Cargo Operator of the Year for the second time in three years, and Cathay Pacific was named Eco-Airline of the Year, becoming the first airline in Asia to receive this distinction.” Passenger traffic in February 2025 Cathay Pacific carried 14.3 percent more passengers in February 2025 compared with February 2024 as Available Seat Kilometres (ASKs) were up by 17 percent. In the first two months of 2025, the number of passengers carried by Cathay Pacific increased by 25.4 percent compared with the same period for 2024. Lau said: “Following the Lunar New Year holiday, leisure travel demand softened while business travel demand picked up, driven by various exhibitions and trade events held in late February and early March. This resulted in February seeing a robust load factor in our premium cabins. Looking ahead, we anticipate reduced leisure travel demand from our home market up to the end of March, during which we will continue to leverage our global network to boost transit traffic.” At the same time, HK Express carried more than 585,000 passengers in February, marking an increase of 32 percent year on year, while Available Seat Kilometres (ASKs) grew by 38 percent. In the first two months of 2025, the number of passengers carried increased by 39.1 percent compared with the same period for 2024. Lau explained: “HK Express continued its growth trajectory in February, announcing new additions to its network and operating more flights and capacity. March is going to be a quieter month following the leisure travel peak over the Lunar New Year holiday, though we are looking forward to welcoming three interesting new destinations, namely Nha Trang, Ishigaki, and Komatsu in April.” Cargo performance in February 2025 Meanwhile, Cathay Cargo carried 11.8 percent more cargo in February 2025 than in February 2024. Available Freight Tonne Kilometres (AFTKs) increased by 3.5 percent while load factor decreased by 1.4 percentage points year on year. In the first two months of 2025, the total tonnage increased by 12.8 percent compared with the same period for 2024. Lau said: “Demand from our Hong Kong hub and the wider Greater Bay Area market started slowly due to the Lunar New Year holiday but picked up towards the end of February. We observed continued growth in our Cathay Secure solution, driven by increased shipments of electronics from the Chinese Mainland and Southeast Asia. We were also proud to be the official airline sponsor of the Longines Hong Kong International Horse Show, transporting around 70 of the world’s finest sports horses from Liège and London to Hong Kong, showcasing our expertise and care in transporting live animals.” She added that, for March, Cathay Cargo expects market demand to pick up as we ramp up our scheduled freighter frequencies to prepare for the quarter end. According to Lau, the company is keeping a close watch on the volatility of the cargo market, and that they will leverage their built-in flexibility to make necessary adjustments to their network and capacity to capture demand changes.
Cathay Group reports on solid performance in 2024
The Cathay Group announced its annual results for the year 2024 on Wednesday, 12th March. The 2024 report highlights a solid financial performance driven by stronger cargo demand, higher passenger volumes, lower fuel price and higher cost efficiencies compared with the previous year. The Hong Kong-based aviation firm reported an attributable profit of HK$9.9 billion in 2024, which compares with a profit of HK$9.8 billion in 2023. Likewise, its airlines and subsidiaries, excluding exceptional items, reported an attributable profit of HK$8.8 billion for the full year of 2024, versus a profit of HK$9.2 billion in 2023. Results from associates, the majority of which are recognised three months in arrears, were a full-year profit of HK$288 million, compared with a loss of HK$1.6 billion in 2023. Cathay Group chair Patrick Healy pointed out that this is the Group’s second consecutive year of solid financial performance and is the result of the outstanding effort and dedication of our global teams. Healy said: “It has enabled us to complete buybacks, pay dividends to our shareholders, reward our people and commit substantial investments that will enhance the experience for our customers and benefit our home hub, Hong Kong.” Group performance in 2024 Cathay Cargo performed very well in 2024, especially in the second half of the year with strong e-commerce demand being a key driver. Overall, cargo tonnage was 11 percent higher and yield was about three percent higher than in 2023. In terms of travel, both Cathay Pacific and HK Express carried over 30 percent more passengers year on year. However, as more flights were added to the market, passenger yields continued to normalise as expected. Cathay Pacific saw a 12 percent decrease in yield, while for HK Express this was even more pronounced with yields down 23 percent year on year, reflecting the intense competition on regional routes. That said, Cathay remains committed to its dual-brand strategy to best serve customers with different needs, with Cathay Pacific as its premium full-service airline and HK Express as its low-cost airline. HK Express experienced short-term operational issues in 2024 that affected its earnings, with an average of five of its Airbus A320neo fleet grounded due to industry-wide Pratt & Whitney engine issues. Cathay likewise expressed its confidence in HK Express’ low-cost carrier business model for the long term, with its commitment to offering low fares and more destination choices for customers. A path to sustained profitability can be expected as the airline continues to grow and increase its efficiencies. Indeed, HK Express is the world’s fastest-growing airline according to aviation analytics provider OAG, and was recently named one of the world’s top five low-cost airlines by Airline Ratings. Although the Cathay Group’s airlines flew more, fuel was less expensive with the average into-plane unit price of fuel (excluding hedging) being over 9% lower year on year. Furthermore, with the increase in both passenger and cargo volumes, the Cathay Group (before subsidiaries and associates) was able to spread its fixed costs over a wider base, resulting in a 4.5 percent decrease in cost per available tonne kilometre (ATK) (excluding fuel) compared with 2023. Results from associates and key financial updates The results from associates, recognised three months in arrears, also improved from a HK$1.6 billion loss in 2023 to a HK$288 million profit in 2024. Air China’s results improved due to the recovery of the civil aviation market, increased fleet efficiency and stricter cost management. In addition to Cathay buying back the remaining 50 percent, or HK$9.8 billion, of the preference shares from the Hong Kong SAR Government in July 2024, a total of nearly HK$4 billion was paid to the Government in preference share dividends over its holding period and in buying back the warrants in September 2024. In early January of this year, Cathay also repurchased approximately 68% of the HK$6.7 billion guaranteed convertible bonds due 2026. Cathay’s full-year result enabled it to announce a second interim dividend payment to ordinary shareholders of 49 cents per share. Together with the first interim dividend that had already been paid, a total of 69 cents per share or HK$4.4 billion will have been paid in ordinary share dividends in respect of 2024. Also, Cathay is pleased to provide its people with more than 10 weeks of eligible pay in total in the form of discretionary bonus and profit sharing. Investments and fleet expansion Healy added: “We are excited about the future and remain firmly committed to strengthening the Hong Kong international aviation hub by boosting air travel and cargo capacity, and elevating our customer experience. Our financial performance gives us the confidence to commit to investing over HK$100 billion to coincide with the launch of the Three-Runway System.” The Cathay Group has begun to take delivery of over100 new-generation aircraft, and continues to present new world-leading cabin interiors including Aria Suite and the all-new Premium Economy, new flagship lounges, and digital innovations. The aviation firm is also expanding its global network, having already announced 11 additional destinations for 2025 with more to come. Together, Cathay Pacific and HK Express will operate passenger services to more than 100 destinations around the world within this year. Healy concluded with: “As Hong Kong’s home airline group, we look forward to continuing to do our part to elevate Hong Kong’s status as a world-leading international aviation hub connecting Hong Kong, the Chinese Mainland, and the world. I would like to sincerely thank our people, our customers, our shareholders and the Hong Kong SAR Government for the invaluable support they have shown Cathay.”
Cathay Cargo appoints Zeal Global Corp as GSA
Cathay Cargo has appointed Zeal Global Corp as its General Sales Agent (GSA) in India, marking a significant step in expanding its operations and market presence across the country. This strategic partnership is set to enhance Cathay Cargo’s reach into India’s Tier 2 and Tier 3 cities, strengthening its position as a leading air cargo carrier in one of the world’s fastest-growing logistics markets. Zeal Global Corp, a premier provider of air cargo logistics solutions, brings extensive expertise as a General Sales and Service Agent (GSSA), and a trusted sales partner for multiple global airlines. With a deep understanding of the Indian air freight industry, Zeal Global Corp specialises in cargo sales, marketing, operational support, and administrative services, leveraging both offline and digital channels to maximise reach and efficiency. This collaboration will focus on key regional markets across India, expanding Cathay Cargo’s presence in Ahmedabad (AMD), Jaipur (JAI), Ludhiana (LUH), Allahabad (AIP), Amritsar (ATQ), Lucknow (LKO), Kanpur (KNU), Cochin (COK), Trivandrum (TRV), Coimbatore (CJB), Madurai (IXM), and Varanasi (VNS). By tapping into these key manufacturing and emerging logistics hubs, Cathay Cargo aims to provide enhanced market access and seamless cargo solutions to businesses across India. Cathay Cargo’s Regional Head of Cargo for South Asia, Middle East, and Africa, Rajesh Menon, said: “We are pleased to appoint Zeal Global Corp as our new General Sales Agent for our cargo operations in India. Their extensive market expertise and strong network across Tier 2 and Tier 3 cities will play a crucial role in expanding our cargo services and enhancing logistics accessibility for businesses in these cities. This strategic partnership is more than just about growth—it’s about unlocking the potential of untapped markets and empowering local businesses with world-class cargo solutions. By strengthening our presence in emerging cities, we aim to streamline supply chains, improve freight connectivity, and offer seamless logistics support to enterprises of all sizes, thereby meeting the growing demand for efficient and reliable cargo services. Menon added, “With Zeal Global Cargo’s expertise and operational efficiency, we will provide local manufacturers, exporters, SMEs, and freight forwarders with greater access to global markets through our home hub, Hong Kong. This collaboration will help drive economic growth, facilitate trade, and create a more integrated and dynamic cargo ecosystem for our Indian partners.” Managing Director and Co-Founder of Zeal Global Corp, Vishal Sharma, said: "Zeal Global Corp is honoured to partner with Cathay Cargo, a renowned global brand in the cargo industry, as we work together to enhance tonnage and revenue by deepening our presence in regional markets. With a longstanding focus on these areas, and a keen understanding of our customers’ needs, this new synergy empowers our dynamic team to deliver superior service and unlock untapped potential. Zeal will serve as a vital link between India's regional markets and Cathay Cargo, facilitating enhanced connectivity and cargo movement. Through our innovative approach, robust in-house freighter capacity, and extensive network, Cathay Cargo can now offer a range of exciting options that may have previously been inaccessible to regional clients. Together, we are committed to expanding Cathay Cargo’s network across India and providing seamless, customer-centric services in every corner of the country.” This appointment reinforces Cathay Cargo’s long-term commitment to India, further strengthening its global supply chain network and providing customers with a seamless, reliable, and efficient cargo transportation ecosystem. Cathay Cargo’s extensive global network, dedicated freighter fleet of Boeing 747-8F and 747-400ERFs (Extended Range Freighter) aircraft, and hub connectivity via Hong Kong ensure robust solutions tailored to meet the growing demands of Indian businesses. Cathay Cargo also uses cargo space on the Cathay Group’s passenger aircraft. Further, Cathay Cargo and the Cathay Cargo Terminal in Hong Kong hold the full set of CEIV certifications, namely CEIV Pharma, CEIV Fresh, CEIV Live Animals, and CEIV Lithium Batteries. Cathay Cargo has also developed a wide range of service options to meet the growing needs of its customers. On top of its expert general cargo handling, they offer a range of dedicated products for shipments that require special handling, including Cathay Priority, Cathay Pharma, Cathay Expert, Cathay Secure, Cathay Fresh, Cathay Courier, Cathay Charter, Ultra Track, Cool Containers, and more. With this strategic expansion, Cathay Cargo continues to position itself as an air cargo carrier of choice, facilitating enhanced trade opportunities and logistics efficiency across India’s dynamic markets.
No Event found matching your search.
Return To Home