Cathay Pacific’s November Traffic Surges, Sets Stage for 2025 Growth
Cathay Pacific has reported significant growth in its passenger and cargo traffic for November 2024, continuing its upward trajectory as the year closes. The Hong Kong-based carrier witnessed a 23.1% increase in passenger numbers compared to the same month last year, transporting a total of 2,010,506 passengers. This robust performance is aligned with a 25.8% rise in revenue passenger kilometers (RPKs) and a 3 percentage point increase in load factor to 83.5%.
The airline’s network expansion and operational efficiency were highlighted by a 21.3% increase in available seat kilometers (ASKs) over November 2023. From January to November 2024, Cathay Pacific’s passenger numbers soared by 27% year-over-year, reaching 20,578,324, with ASKs and RPKs up by 31.5% and 26.7% respectively.
Lavinia Lau, Cathay’s Chief Customer and Commercial Officer, remarked on the performance, “November was yet another solid month for our travel business, with strong passenger volumes across our network. Particularly, routes to Japan and South Korea saw robust demand, driven by traffic from Hong Kong, Australia, and Southeast Asia.”
The airline also enjoyed substantial cargo growth, carrying 142,601 tonnes in November 2024—an increase of 15% from the previous year. Cargo revenue tonne kilometers (RFTKs) rose by 11.9%, with a notable load factor increase to 62.3%. Year-to-date figures showed a 10.9% rise in cargo tonnage, reflecting strong market momentum, particularly from the Greater Bay Area and driven by e-commerce sales events.
Lau added, “We saw a healthy momentum in the cargo sector during the peak season. There was high demand for perishables from the Americas and Southwest Pacific, and we observed a rise in tonnage for our Cathay Expert solution, particularly for machinery and engine transport from Japan.”
As 2024 draws to a close, Cathay Pacific is gearing up for a promising 2025, expecting to reach pre-pandemic flight levels by January. The carrier and its sister airline, HK Express, are projected to operate flights to 100 destinations globally within the next year. Noteworthy additions to their network include Cairns and Phu Quoc, with plans to introduce routes to Hyderabad, Dallas, Munich, and Brussels.
“The successful recruitment and training of around 7,000 new employees in 2024 have been a significant part of our rebuilding journey, bringing our total workforce to over 30,000, including more than 3,400 pilots,” Lau stated. This expansion underscores Cathay Pacific’s commitment to strengthening its global presence and enhancing service delivery.
Looking forward, Cathay Pacific anticipates a strong financial performance in the second half of the year, buoyed by sustained cargo demand and falling fuel prices, though it remains cautious about the normalization of passenger yields as flight supply increases to meet the rising market demand.
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