Overview of Passenger and Cargo Performance in December 2024
The Cathay Pacific Group, headquartered in Hong Kong, has released its traffic figures for December 2024, showcasing significant growth in both passenger and cargo transport. This growth marks the culmination of a two-year intensive rebuilding process following the severe impacts of the COVID-19 pandemic on the aviation sector.
In December 2024, Cathay Pacific witnessed a substantial 26.4% increase in passenger numbers compared to the previous year, totaling 2,248,950 passengers. This surge in traffic is reflected in the rise of Revenue Passenger Kilometers (RPKs) by 27.9% and an Available Seat Kilometers (ASKs) increase of 22.5%. The passenger load factor also improved by 3.6 percentage points, reaching 84.8%.
The cargo division also showed impressive performance with 143,564 tonnes of cargo transported in December 2024, marking an 11.7% increase from December 2023. The Cargo Revenue Tonne Kilometers (RFTKs) grew by 6.5%, and the cargo load factor edged up by 0.6 percentage points to 61.4%.
Annual Performance for 2024
For the entire year of 2024, Cathay Pacific and its low-cost arm, HK Express, carried over 28 million passengers, which represents a 30.7% increase from the previous year, achieving new post-pandemic records. The cargo operations also saw a robust year with a total of 1.5 million tonnes of cargo transported, an 11% increase over 2023.
Strategic Developments and Enhanced Services
Lavinia Lau, the Chief Customer and Commercial Officer, highlighted the strategic initiatives and premium services that have fueled this growth. Notably, the premium cabins experienced heightened demand towards the holiday season, spurred by an uptick in business travel. Cathay Pacific also resumed its seasonal service to Cairns, operating three flights per week, which received positive customer feedback.
The Group has significantly enhanced its global network, particularly strengthening the connectivity between the Chinese Mainland and international cities through the Hong Kong hub. This strategic positioning has successfully attracted more transit passengers, contributing to the traffic growth.
Looking Forward into 2025
As the Group looks into 2025, it plans to continue enhancing Hong Kong’s status as a premier international aviation hub. The introduction of direct flights from Hong Kong to Rome in June 2025 and the addition of six new destinations are part of this strategic expansion. These initiatives aim to expand the Group’s global reach to 100 destinations worldwide within the year.
With the Lunar New Year around the corner, the Group is anticipating a significant uptick in bookings, driven by holiday travel. Post-Lunar New Year, the focus will shift towards accommodating more transit passengers through Cathay Pacific’s extensive network.
In terms of cargo, the Group expects a temporary softening in demand early in January, which is projected to rebound as the Lunar New Year approaches, driven by increased shipments related to the festive season.