Cathay Pacific Air (00293)
Last Update: 2025-09-04
Stock Name
Cathay Pacific Air
Listing Date
1986-05-15
Sector
Aviation
Chairman
HEALY, Patrick
Par Value
0( )
Total Issued Capital
6.676B
Market Cap
69.703B
Related Stocks
Principal Activities
As well as operating scheduled airline services, the Group is engaged in other related areas including airline catering, aircraft handling and aircraft engineering. The airline operations are principally to and from Hong Kong, which is where most of the Group’s other activities are also carried out.
Latest Results
The Group's profit attributable to shareholders for the 6 months ended 30-06-2025 amounted to HKD 3.65 billion, an increase of 1.1% compared with previous corresponding period. Basic earnings per share was HKD 0.567. A dividend of HKD 0.2 per share was declared. Turnover amounted to HKD 54.31 billion, an increase of 9.5% over the same period last year. (Announcement Date: 06 Aug 2025)
Business Review - For the six months ended June 30, 2025
Cathay Pacific
Home market–Hong Kong and Greater Bay Area (GBA)•We continued to add more flights, capacity and variety of intermodal transport to provide more options for our customers travelling to and from Hong Kong and the wider Greater Bay Area. In addition to our codeshare ferry services, we have introduced codeshare bonded shuttle buses operating to and from the SkyPier Terminal at HKIA via the Hong Kong-Zhuhai-Macao Bridge.•The Canton Fair in the second half of April drew strong demand into the Greater Bay Area, with many travellers taking advantage of our intermodal Pazhou Ferry codeshare service. We continued to offer on-site upstream check- in services at the exhibition venue, providing a seamless travel experience for customers travelling to and from the Greater Bay Area.•We saw a boost in leisure travel demand from Hong Kong and the rest of the Greater Bay Area in January and April, stimulated by various holiday periods around the region.•Demand for our premium cabins was strong during February and March, driven by various exhibitions, trade shows and mega-events held in Hong Kong and the wider Greater Bay Area.
Americas
•In April, we launched direct flights to Dallas Fort Worth International Airport for the first time, further expanding our network in the important North America market. These flights have been well received by our customers and will increase from four flights per week to daily in October 2025 in response to strong demand.•As at 30th June 2025, Cathay Pacific’s scheduled passenger services covered eight destinations in the Americas.
Southeast Asia and Oceania
•Local holidays across Southeast Asia, such as Lebaran, Songkran and Vesak, drove strong travel demand, with popular destinations extending beyond Hong Kong to various Northeast Asian markets.•In May, we announced that we would be returning to Adelaide in November 2025 with a three-times-weekly winter seasonal service.•As at 30th June 2025, Cathay Pacific’s scheduled passenger services covered 20 destinations in Southeast Asia and Oceania.
North Asia
•We continued to enhance connectivity between Hong Kong and the Chinese Mainland with more flights and destinations. In April, we launched passenger services to Urumqi, connecting our home city with an important Belt and Road hub in Northwestern China. For the summer season, we increased our Chinese Mainland services to provide our customers with greater choice and connectivity. This included increasing to seven daily return flights to Beijing, eight daily return flights to Shanghai (Pudong), four daily return flights to Hangzhou and double-daily return flights to Nanjing.•While demand for travel to Japan was strong for much of the first half of 2025, it slowed down substantially in June due to online earthquake rumours.•As at 30th June 2025, Cathay Pacific’s scheduled passenger services covered 27 destinations in North Asia.
Europe
•Student traffic from the United Kingdom was strong ahead of Easter as students returned home for the holiday period.•We continued to strengthen our European network with the addition of new routes. In June, Cathay Pacific returned to Rome with a summer seasonal service, and launched direct passenger flights to Munich for the first time.•As at 30th June 2025, Cathay Pacific’s scheduled passenger services covered 12 destinations in Europe.
South Asia, the Middle East and Africa
•In March, we resumed our non-stop service between Hong Kong and Hyderabad, further enhancing our India network.•As at 30th June 2025, Cathay Pacific’s scheduled passenger services covered 11 destinations in South Asia, the Middle East and Africa.
Cathay Cargo
Home market–Hong Kong and the Greater Bay Area (GBA)•As the largest cargo operator at HKIA, Cathay Cargo was proud to be a key contributor to it being named the world’s busiest cargo airport for the 14th time since 2010.•We offered up to 100 return freighter flights a week and more than 1,600 return passenger flights a week with cargo capability to over 100 destinations worldwide from our Hong Kong hub.•Cargo demand from Hong Kong and the rest of the GBA into the United States was negatively impacted by the increased tariffs imposed in early April and the removal of the de minimis exemption in early May, although there was some recovery following the temporary reduction in tariffs from mid-May. While e-commerce demand declined during this period, we were able to offset the shortfall by capturing additional cargo volumes to optimise flight capacity.
Americas
•As at 30th June 2025, we were operating freighters serving 12 destinations in the Americas, in addition to utilising belly space on Cathay Pacific’s passenger flights.•We increased transpacific freighter frequencies in March to cater for the quarter-end air cargo peak season.•Our Cathay Secure and Cathay Expert specialist solutions saw healthy demand for shipments to destinations in Asia from the Americas.
Southeast Asia and Oceania
•As at 30th June 2025, we were operating freighters serving nine destinations in Southeast Asia and Oceania, in addition to utilising belly space on the Cathay Group’s passenger flights.•We introduced an additional weekly freighter service to Hanoi from May, resulting in a total of eight freighter flights per week to the city.•Driven by strong demand to the Americas, the Southeast Asia region had a strong start to 2025, followed by a production rush ahead of the introduction of tariff changes by the United States in early April.•General cargo including high-tech electronics and garments performed well on regional routes, with Vietnam,
Thailand and Indonesia continuing to drive perishables traffic into Hong Kong, the Chinese Mainland and the United States.•Perishables such as chilled meats and fresh produce comprised a large proportion of the cargo carried from Oceania.•Exports from Oceania to Europe and the Americas were supported by movements of vehicles, turbines and exhibition materials, while exports under the Cathay Live Animal solution remained solid.•Cathay Cargo launched weekly freighter flights to Brisbane in June while suspending the Wellcamp service.•In June, we transported a number of terracotta figures and over 200 artefacts from Xi’an to Perth via Hong Kong for the“Terracotta Warriors: Legacy of the First Emperor”exhibition, leveraging our Cathay Expert and Cathay Secure solutions to help bring these important cultural treasures to the world.
North Asia
•As at 30th June 2025, we were operating freighters serving nine destinations in North Asia, in addition to utilising belly space on the Cathay Group’s passenger flights.
•The Chinese Mainland market remained steady despite a temporary contraction in cargo demand from the United States between April and mid-May due to increased tariffs and the removal of the de minimis exemption. We saw a rebound in demand following the temporary reduction in tariffs in May.
•Overall, demand for general cargo from the Chinese Mainland to other markets remained robust, with growth primarily driven by high-tech electronics on major trade lanes to markets such as India and the Southwest Pacific.
•Tonnage under our Cathay Mail and Cathay Pharma solutions from the Chinese Mainland saw notable growth for the first half of 2025.
•Long-haul traffic from other markets in North Asia remained steady, with high-tech and automotive shipments being the key commodities.
Europe
•As at 30th June 2025, we were operating freighters serving five destinations in Europe, in addition to utilising belly space on Cathay Pacific’s passenger flights.•We operated additional frequencies on our European routes in March to cater for the quarter-end air cargo demand.•General cargo remained the key export contributor to tonnage growth for Europe, with Cathay Pharma and Cathay Fresh continuing to drive growth for our specialist solutions from the region.•In February, we were proud to be the official airline partner for the Longines Hong Kong International Horse Show.
We transported around 70 of the world’s finest sports horses from Lige and London to Hong Kong, showcasing our expertise and care in transporting live animals.
South Asia, the Middle East and Africa
•As at 30th June 2025, we were operating freighters serving six destinations in South Asia, the Middle East and Africa, in addition to utilising belly space on Cathay Pacific’s passenger flights.•General cargo, high-tech electronics, perishables and pharmaceuticals continued to drive tonnage growth from the region, with Asia being a key destination.
Lifestyle
Cathay’s Lifestyle vision is to become a leading service brand by building deep, engaging relationships with customers, offering them curated travel lifestyle products and experiences throughout their lifetime. Through the Lifestyle business, we interact with customers beyond their journeys, foster loyalty, and leverage relationships for additional value. This includes Asia Miles, our established mileage business, and new product sales businesses such as hotels, retail, experiences, and insurance. Both streams provide access to the Cathay membership programme and Asia Miles, allowing members to earn and use miles for full or partial payment.
Business Outlook - For the six months ended June 30, 2025
We remain fully confident in and committed to the Hong Kong international aviation hub, demonstrated by our investments totalling well over HK$100 billion in our fleet, cabin and lounge products, and digital innovation.
Looking ahead, travel demand for Cathay Pacific remains robust and we will continue to add more flights and destinations for our customers, in addition to introducing more customer experience enhancements.
Regarding Cathay Cargo, uncertainty in the market environment remains and we will stay vigilant and agile, while continuing to serve demand where it arises. In parallel, we will continue to strengthen our special solutions, digital capabilities and sustainability leadership to position us for future growth.
HK Express continues to face short-term challenges. We have seen a pickup in bookings to Japan, though they are yet to return to normal levels. The airline has expanded quickly to exciting new destinations. These routes will take time to mature, however our customers have responded well to them initially. We are taking a long-term view and a path to profitability can be expected for the low-cost carrier as it continues to grow, increase its efficiencies, and further strengthen its fundamentals.
Source: Cathay Pacific Air (00293) Interim Results Announcement
As well as operating scheduled airline services, the Group is engaged in other related areas including airline catering, aircraft handling and aircraft engineering. The airline operations are principally to and from Hong Kong, which is where most of the Group’s other activities are also carried out.
Latest Results
The Group's profit attributable to shareholders for the 6 months ended 30-06-2025 amounted to HKD 3.65 billion, an increase of 1.1% compared with previous corresponding period. Basic earnings per share was HKD 0.567. A dividend of HKD 0.2 per share was declared. Turnover amounted to HKD 54.31 billion, an increase of 9.5% over the same period last year. (Announcement Date: 06 Aug 2025)
Business Review - For the six months ended June 30, 2025
Cathay Pacific
Home market–Hong Kong and Greater Bay Area (GBA)•We continued to add more flights, capacity and variety of intermodal transport to provide more options for our customers travelling to and from Hong Kong and the wider Greater Bay Area. In addition to our codeshare ferry services, we have introduced codeshare bonded shuttle buses operating to and from the SkyPier Terminal at HKIA via the Hong Kong-Zhuhai-Macao Bridge.•The Canton Fair in the second half of April drew strong demand into the Greater Bay Area, with many travellers taking advantage of our intermodal Pazhou Ferry codeshare service. We continued to offer on-site upstream check- in services at the exhibition venue, providing a seamless travel experience for customers travelling to and from the Greater Bay Area.•We saw a boost in leisure travel demand from Hong Kong and the rest of the Greater Bay Area in January and April, stimulated by various holiday periods around the region.•Demand for our premium cabins was strong during February and March, driven by various exhibitions, trade shows and mega-events held in Hong Kong and the wider Greater Bay Area.
Americas
•In April, we launched direct flights to Dallas Fort Worth International Airport for the first time, further expanding our network in the important North America market. These flights have been well received by our customers and will increase from four flights per week to daily in October 2025 in response to strong demand.•As at 30th June 2025, Cathay Pacific’s scheduled passenger services covered eight destinations in the Americas.
Southeast Asia and Oceania
•Local holidays across Southeast Asia, such as Lebaran, Songkran and Vesak, drove strong travel demand, with popular destinations extending beyond Hong Kong to various Northeast Asian markets.•In May, we announced that we would be returning to Adelaide in November 2025 with a three-times-weekly winter seasonal service.•As at 30th June 2025, Cathay Pacific’s scheduled passenger services covered 20 destinations in Southeast Asia and Oceania.
North Asia
•We continued to enhance connectivity between Hong Kong and the Chinese Mainland with more flights and destinations. In April, we launched passenger services to Urumqi, connecting our home city with an important Belt and Road hub in Northwestern China. For the summer season, we increased our Chinese Mainland services to provide our customers with greater choice and connectivity. This included increasing to seven daily return flights to Beijing, eight daily return flights to Shanghai (Pudong), four daily return flights to Hangzhou and double-daily return flights to Nanjing.•While demand for travel to Japan was strong for much of the first half of 2025, it slowed down substantially in June due to online earthquake rumours.•As at 30th June 2025, Cathay Pacific’s scheduled passenger services covered 27 destinations in North Asia.
Europe
•Student traffic from the United Kingdom was strong ahead of Easter as students returned home for the holiday period.•We continued to strengthen our European network with the addition of new routes. In June, Cathay Pacific returned to Rome with a summer seasonal service, and launched direct passenger flights to Munich for the first time.•As at 30th June 2025, Cathay Pacific’s scheduled passenger services covered 12 destinations in Europe.
South Asia, the Middle East and Africa
•In March, we resumed our non-stop service between Hong Kong and Hyderabad, further enhancing our India network.•As at 30th June 2025, Cathay Pacific’s scheduled passenger services covered 11 destinations in South Asia, the Middle East and Africa.
Cathay Cargo
Home market–Hong Kong and the Greater Bay Area (GBA)•As the largest cargo operator at HKIA, Cathay Cargo was proud to be a key contributor to it being named the world’s busiest cargo airport for the 14th time since 2010.•We offered up to 100 return freighter flights a week and more than 1,600 return passenger flights a week with cargo capability to over 100 destinations worldwide from our Hong Kong hub.•Cargo demand from Hong Kong and the rest of the GBA into the United States was negatively impacted by the increased tariffs imposed in early April and the removal of the de minimis exemption in early May, although there was some recovery following the temporary reduction in tariffs from mid-May. While e-commerce demand declined during this period, we were able to offset the shortfall by capturing additional cargo volumes to optimise flight capacity.
Americas
•As at 30th June 2025, we were operating freighters serving 12 destinations in the Americas, in addition to utilising belly space on Cathay Pacific’s passenger flights.•We increased transpacific freighter frequencies in March to cater for the quarter-end air cargo peak season.•Our Cathay Secure and Cathay Expert specialist solutions saw healthy demand for shipments to destinations in Asia from the Americas.
Southeast Asia and Oceania
•As at 30th June 2025, we were operating freighters serving nine destinations in Southeast Asia and Oceania, in addition to utilising belly space on the Cathay Group’s passenger flights.•We introduced an additional weekly freighter service to Hanoi from May, resulting in a total of eight freighter flights per week to the city.•Driven by strong demand to the Americas, the Southeast Asia region had a strong start to 2025, followed by a production rush ahead of the introduction of tariff changes by the United States in early April.•General cargo including high-tech electronics and garments performed well on regional routes, with Vietnam,
Thailand and Indonesia continuing to drive perishables traffic into Hong Kong, the Chinese Mainland and the United States.•Perishables such as chilled meats and fresh produce comprised a large proportion of the cargo carried from Oceania.•Exports from Oceania to Europe and the Americas were supported by movements of vehicles, turbines and exhibition materials, while exports under the Cathay Live Animal solution remained solid.•Cathay Cargo launched weekly freighter flights to Brisbane in June while suspending the Wellcamp service.•In June, we transported a number of terracotta figures and over 200 artefacts from Xi’an to Perth via Hong Kong for the“Terracotta Warriors: Legacy of the First Emperor”exhibition, leveraging our Cathay Expert and Cathay Secure solutions to help bring these important cultural treasures to the world.
North Asia
•As at 30th June 2025, we were operating freighters serving nine destinations in North Asia, in addition to utilising belly space on the Cathay Group’s passenger flights.
•The Chinese Mainland market remained steady despite a temporary contraction in cargo demand from the United States between April and mid-May due to increased tariffs and the removal of the de minimis exemption. We saw a rebound in demand following the temporary reduction in tariffs in May.
•Overall, demand for general cargo from the Chinese Mainland to other markets remained robust, with growth primarily driven by high-tech electronics on major trade lanes to markets such as India and the Southwest Pacific.
•Tonnage under our Cathay Mail and Cathay Pharma solutions from the Chinese Mainland saw notable growth for the first half of 2025.
•Long-haul traffic from other markets in North Asia remained steady, with high-tech and automotive shipments being the key commodities.
Europe
•As at 30th June 2025, we were operating freighters serving five destinations in Europe, in addition to utilising belly space on Cathay Pacific’s passenger flights.•We operated additional frequencies on our European routes in March to cater for the quarter-end air cargo demand.•General cargo remained the key export contributor to tonnage growth for Europe, with Cathay Pharma and Cathay Fresh continuing to drive growth for our specialist solutions from the region.•In February, we were proud to be the official airline partner for the Longines Hong Kong International Horse Show.
We transported around 70 of the world’s finest sports horses from Lige and London to Hong Kong, showcasing our expertise and care in transporting live animals.
South Asia, the Middle East and Africa
•As at 30th June 2025, we were operating freighters serving six destinations in South Asia, the Middle East and Africa, in addition to utilising belly space on Cathay Pacific’s passenger flights.•General cargo, high-tech electronics, perishables and pharmaceuticals continued to drive tonnage growth from the region, with Asia being a key destination.
Lifestyle
Cathay’s Lifestyle vision is to become a leading service brand by building deep, engaging relationships with customers, offering them curated travel lifestyle products and experiences throughout their lifetime. Through the Lifestyle business, we interact with customers beyond their journeys, foster loyalty, and leverage relationships for additional value. This includes Asia Miles, our established mileage business, and new product sales businesses such as hotels, retail, experiences, and insurance. Both streams provide access to the Cathay membership programme and Asia Miles, allowing members to earn and use miles for full or partial payment.
Business Outlook - For the six months ended June 30, 2025
We remain fully confident in and committed to the Hong Kong international aviation hub, demonstrated by our investments totalling well over HK$100 billion in our fleet, cabin and lounge products, and digital innovation.
Looking ahead, travel demand for Cathay Pacific remains robust and we will continue to add more flights and destinations for our customers, in addition to introducing more customer experience enhancements.
Regarding Cathay Cargo, uncertainty in the market environment remains and we will stay vigilant and agile, while continuing to serve demand where it arises. In parallel, we will continue to strengthen our special solutions, digital capabilities and sustainability leadership to position us for future growth.
HK Express continues to face short-term challenges. We have seen a pickup in bookings to Japan, though they are yet to return to normal levels. The airline has expanded quickly to exciting new destinations. These routes will take time to mature, however our customers have responded well to them initially. We are taking a long-term view and a path to profitability can be expected for the low-cost carrier as it continues to grow, increase its efficiencies, and further strengthen its fundamentals.
Source: Cathay Pacific Air (00293) Interim Results Announcement
Information provided by MegaHub Limited
Disclaimer
Disclaimer