Cathay Group projects strong 2025 full-year results

The Cathay Group announced robust traffic figures for November 2025, indicating solid demand for both passenger and cargo businesses. Cathay Pacific carried 2.53 million passengers, a 25.9% increase from November 2024, achieving an 87.0% load factor. Available Seat Kilometres (ASKs) rose by 21.8%. For the first 11 months of 2025, passenger numbers increased by 27% compared to the same period in 2024. Cathay Cargo also saw a 10.4% rise in cargo carried, totaling 157,472 tonnes, with Available Freight Tonne Kilometres (AFTKs) up by 6.6%.

HK Express also contributed to the Group's strong performance, carrying close to 640,000 passengers in November 2025, a 27% year-on-year increase. Its Available Seat Kilometres (ASKs) grew by 18%, and its load factor improved to over 83%. The airline's passenger growth for the first 11 months of 2025 reached 30% compared to 2024.

The Cathay Group projects its consolidated 2025 full-year financial result to exceed 2024's performance, driven by increased capacity, strong passenger load factors, and resilient cargo demand. The second half of 2025 is expected to be particularly strong, including approximately HK$0.9 bn from a non-recurring gain on a supplier settlement agreement. While HK Express reported some losses due to factors impacting travel demand to Japan, the overall outlook remains positive.