Cathay Pacific expects to record consolidated shareholder profit of approximately HK$60 billion to HK$65 billion for the first half ending June, including about HK$14 billion in deemed disposal gains from the dilution of its stake in Air China. The Hong Kong-based airline reported shareholder profit of HK$3.7 billion in the first half of last year. The improved performance benefited from sustained robust demand for Cathay Pacific and Cathay Cargo services, improved performance at HK Express, and stronger profit contributions from associated companies, reflecting Hong Kong's aviation sector recovery amid regional travel resumption.
Cathay Pacific Forecasts HK$60-65 Billion First-Half Profit
Cathay Pacific announced it expects to record consolidated shareholder profit of approximately HK$60 billion to HK$65 billion for the first half ending June. The forecast includes about HK$14 billion in deemed disposal gains arising from the dilution of the group's stake in Air China. In the first half of last year, Cathay Pacific recorded shareholder profit of HK$3.7 billion. The group stated that first-half results also benefited from sustained robust demand for Cathay Pacific and Cathay Cargo, improved performance at HK Express, and stronger profit contributions from associated companies.
Passenger and Cargo Volumes Rise in June and First Half
Cathay Pacific's June passenger volume increased 12% year-on-year to 2.5829 million passengers, with available seat kilometers rising 6% year-on-year. Cargo volume grew 9% year-on-year to 144,800 tonnes, while available cargo tonne kilometers increased 1% year-on-year. For the first half, passenger volume reached 16 million, up 17% year-on-year, and cargo volume rose 9% year-on-year to 868,900 tonnes.
HK Express Records 10% First-Half Passenger Growth
HK Express carried over 560,000 passengers in June, down 4% year-on-year, with available seat kilometers declining 7% year-on-year. For the first six months, passenger volume increased 10% year-on-year to 4.1634 million passengers.
Executive Highlights Summer Travel Optimism and Network Expansion
Cathay Pacific Chief Customer and Commercial Officer Lavinia Lau stated that the group continued its growth momentum in June despite persistently high aviation fuel prices. Cathay Pacific and HK Express combined carried over 3.1 million passengers during the month, while Cathay Cargo transported approximately 145,000 tonnes, with both passenger and cargo volumes growing 9% compared to the same period last year. The group continues to enhance network connectivity for customers. HK Express recently launched a new daily service between Hong Kong and Wuxi, further expanding the group's mainland China route network. Lau expressed optimism about the summer travel peak season outlook, particularly for long-haul routes, while demand for short-haul destinations departing from Hong Kong remains stable, with mainland China and Northeast Asia especially popular among travelers.
FAQ
What profit did Cathay Pacific forecast for the first half ending June?
Cathay Pacific expects to record consolidated shareholder profit of approximately HK$60 billion to HK$65 billion for the first half ending June, including about HK$14 billion in deemed disposal gains from the dilution of its stake in Air China.
How did Cathay Pacific's passenger and cargo volumes perform in June?
In June, Cathay Pacific's passenger volume increased 12% year-on-year to 2.5829 million passengers, while cargo volume grew 9% year-on-year to 144,800 tonnes. For the first half, passenger volume reached 16 million (up 17% year-on-year) and cargo volume rose 9% year-on-year to 868,900 tonnes.
What new route did HK Express launch recently?
HK Express recently launched a new daily service between Hong Kong and Wuxi, further expanding the group's mainland China route network.
