Cathay Pacific Releases Impressive Traffic Figures for 2024

Dubai, UAE – 22 January, 2025: Cathay Pacific released its traffic figures for December 2024. In the full year of 2024, the Cathay Group achieved new post-pandemic highs for total passengers and cargo carried.Cathay Pacific and HK Express carried a combined total of more than 28 million passengers,marking an increase of 30.7% year on year. Meanwhile, Cathay Cargo carried a total of 1.5 million tonnes of cargo in 2024, which was 11% higher than the whole of 2023.

Cathay Pacific carried a total of 2,248,950 passengers in December 2024, an increaseof 26.4% compared with December 2023. The month’s revenue passenger kilometres (RPKs) increased 27.9% year on year. Passenger load factor increased by3.6 percentage points to 84.8%, while available seat kilometres (ASKs) increasedby 22.5% year on year. 

The airline carried 143,564 tonnes of cargo in December 2024, anincrease of 11.7% compared with December 2023. The month’s cargo revenue tonne kilometres (RFTKs) increased 6.5% year on year. The cargo load factor increased by 0.6 percentage points to61.4%, while available cargo tonne kilometres (AFTKs)increased by 5.5% year on year.

Travel

Chief Customer and Commercial Officer Lavinia Lau said: “December is the traditional peak season for our travel business as customers visit friends and relatives, and travel for leisure overthe Christmas and New Year holidays. In 2024, we achieved a significant milestone during the year-end travel peak with Cathay Pacific and HK Express together carrying more than100,000 passengersin a single day— the most since the start of our rebuild — on a total of eight days."

"In addition, our premium cabins experienced high demand leading up to the holiday season, reflecting a surge in business-related travel before the end of the year. December also saw the resumption of our seasonal service to Cairns, which operates three flights per week andhas been well received by customers".

"Overall in 2024, we continued to leverage our global network and the strategic advantages of the Hong Kong hub to attract more transit passengers, in particular those travelling between the Chinese Mainland and cities around the world".

Cargo

Regarding the airline group's cargo numbers, Lavinia Lau said: "For cargo, the healthy market momentum seen in previous months continued into December, resulting in the highest tonnage of any month in2024.

"Demand for e-commerce shipments from Hong Kong and the rest of the Greater Bay Area remained robust during the year-end festive season. We alsosaw significant demand for perishables and seasonal produce from South West Pacific and the Americas to Hong Kong and other parts of Asia".

"Meanwhile, we observed an increase in tonnage of our Cathay Expert solution arising from the movement of machinery and engines, particularly from North Asia".

Outlook

Lavinia Lau added, "As a Group, wemade incredible progress in 2024, having successfully completed our two-yearrebuild journey andreaching 100% of our pre-pandemic flights from January 2025. Looking ahead, we remain firmly focused on further strengthening Hong Kong’s status as a leading international aviation hub, adding more flights and destinations for both passengers and cargo customers.

"Just recently, Cathay Pacific announced the launch of direct flights between Hong Kong and Rome starting June this year. As a Group, we have already announced six new destinations so far for 2025 as we strive towards reaching 100 destinations worldwide this year.

"With the Lunar New Year approaching, we are seeing bookings accelerate as customers plan theirholiday travel after the Christmasseason. After the Lunar New Yearpeak, we expect leisure travel demand from Hong Kong to be quieter, with our flights carrying more transit passengers leveraging our strong global network."  

"In terms of cargo, we anticipate demand to be softer during the first half of Januarybeforepicking upagain towards the Lunar New Year holiday.”

CATHAY PACIFIC TRAFFIC

                                                      DEC                     % Change                Cumulative            % Change
                                                      2024                   VS DEC2023              DEC2024                 YTD

RPK (000) 
 - Chinese Mainland                   444,592                         37.6%                 4,786,703                 40.4%
 - North East Asia                     1,210,616                        15.4%               12,172,706                 21.0%
 - South East Asia                     1,166,580                        25.5%               11,673,860                 26.8%
 - South Asia, Mid-East & Africa  656,661                         46.3%                 6,014,708                 54.1%
 - South West Pacific                1,409,930                        33.4%                12,681,391                35.4%
 - North America                        2,524,171                        35.5%                27,389,508               38.5%
 - Europe                                   1,553,470                        15.9%                18,296,633                 3.9%
RPK Total (000)                         8,966,020                        27.9%                93,015,509                 26.8%
Passengers carried                   2,248,950                        26.4%                 22,827,274               26.9%
Cargo revenue tonne km (000)    785,049                         6.5%                    8,502,882                 5.0%
Cargo carried (000kg)                   143,564                       11.7%                   1,532,064               11.0%
No. of flight sectors (pas & cargo)   10,607                       17.5%                      113,927               26.7%

CATHAY PACIFIC CAPACITY

                                                    DEC                         % Change                 Cumulative              % Change
                                                    2024                      VS DEC 2023               DEC2024                    YTD

ASK (000) 
 - Chinese Mainland                    640,647                      29.0%                         6,669,114                 40.7%
 - North East Asia                      1,439,099                       9.4%                        15,526,630                24.9%
 - South East Asia                     1,342,186                     17.8%                        14,938,883                 30.9%
 - South Asia, Mid-East & Africa   722,475                     34.6%                          7,480,564                  56.7%
 - South West Pacific                 1,642,114                      29.1%                       15,588,633                 39.2%
 - North America                         2,964,025                     32.9%                        31,020,562                44.0%
 - Europe                                    1,819,973                      11.1%                       20,564,909                 5.4%
ASK Total (000)                        10,570,519                     22.5%                      111,789,293                 30.6%
Passenger load factor                     84.8%                        3.6%pt                         83.2%pt                 -2.5%pt
Available cargo tonne km (000) 1,278,339                        5.5%                       14,193,375                   8.6%
Cargo load factor                             61.4%                        0.6%pt                            59.9%               -2.1%pt
ATK (000)                                   2,285,287                      12.4%                       24,835,985                17.0%

Glossary

Terms:

Available seat kilometres (“ASK”) 
Passenger seat capacity, measured in seats available for the carriage of passengers on each sector multiplied by the sector distance.

Available tonne kilometres (“ATK”)
Overall capacity measured in tonnes available for the carriage of passengers, excess baggage, cargo on each sector multiplied by the sector distance.

Available cargo tonne kilometres (“AFTK”)
Cargo capacity measured in tonnes available for the carriage of freight on each sector multiplied by the sector distance.

Revenue passenger kilometres (“RPK”)
Number of passengers carried on each sector multiplied by the sector distance.

Cargo revenue tonne kilometres (“RFTK”)
Amount of cargo, measured in tonnes, carried on each sector multiplied by the sector distance.