Cathay Pacific (00293): The number of passengers carried 2,530,400 in November increased 26% year-on-year

According to the Zhitong Finance App, Cathay Pacific (00293) announced that in November 2025, the number of passengers carried by Cathay Pacific increased by 26% compared to the same month in 2024, and the number of available seat kilometers increased by 22% year-on-year. The first 11 months of 2025 carried 26.1308 million passengers, an increase of 27% over the same period in 2024. Cathay Pacific Cargo carried 157,500 tonnes of cargo in November 2025, an increase of 10% over the same month of 2024, and the number of available cargo tonnes and kilometers increased 7% year-on-year. Cargo volume in the first 11 months of 2025 also increased by 10% compared to the same period last year. Hong Kong Express carried nearly 640,000 passengers in November 2025, an increase of 27% over the same month of 2024, while the number of available seat kilometers increased 18%. The number of passengers carried in the first 11 months of 2025 increased by 30% compared to the same period last year.

Cathay Pacific Customer and Commerce CEO Liu Kaishi said, “Although Hong Kong did not have long holidays during the month, passenger traffic remained strong. The carrying rate reached 87%, a two-year high. Demand for Northeast Asia routes is strong, mainly driven by major markets such as Hong Kong, Europe and Southeast Asia. Seasonal flights to Adelaide and Christchurch are also very popular and benefit from a steady flow of connecting passengers. We remain optimistic about the outlook for peak demand for Christmas travel, with Northeast Asia being the most popular with local travelers. Looking ahead, travel demand during the Lunar New Year holidays is also ideal, and the number of visitors from Hong Kong and the Mainland is particularly impressive.”

“With steady export demand from Hong Kong and the Mainland, and increased routes to Southeast Asia, South Asia, the Middle East and Africa, the cargo business continued to record monthly and year-on-year growth in November. Our professional delivery solutions have also performed well. Among them, demand for “Cathay Pacific - Priority Delivery” is strong in Northeast Asia, while demand for “Cathay Pacific - Special Cargo Delivery” and “Cathay Pacific - Fresh Freight” solutions has also increased in Northeast Asia and South America. We are entering a peak air cargo season with strong demand, which is expected to continue until December. As overall demand gradually slows down from mid-December, we will adjust peak season freighter flights, but demand on major cargo routes is expected to remain stable.”

“Hong Kong Express continued to increase passenger traffic in November, with a carrying rate of over 83%, an increase of nearly 6 percentage points over the same period in 2024. Looking ahead to December, the overall route network remains well booked.”

In addition, the Group obtained an additional revenue of approximately HK$900 million in the second half of the year, stemming from a non-recurring revenue generated by a settlement agreement with a supplier. As far as Cathay Pacific Group's 2025 consolidated financial results are concerned, the second half of the year has always been a period of good performance for the Group. This year's situation is the same as 2024. Overall, the Group's consolidated financial results for the full year are expected to surpass last year's steady performance.