Cathay Pacific Reports 1% Profit Growth in 2024 Amid Post-Pandemic Recovery

The Hong Kong-based airline cites higher passenger volumes, strong cargo demand, and cost efficiencies as key drivers of its second consecutive year of solid financial performance.

• Cathay Pacific's net profit for 2024 rose 1% to US$1.27 billion (HK$9.88 billion), driven by increased passenger volumes and lower fuel prices.
• Group revenue grew 10.5% year-over-year to US$13.4 billion, bolstered by a one-time gain from diluting its stake in Air China.
• The airline announced a second interim dividend of 49 Hong Kong cents per share, bringing the full-year payout to 69 Hong Kong cents per share.
• Passenger yields declined by 12% for Cathay Pacific and 23% for its subsidiary HK Express due to heightened competition on regional routes.
• Cathay completed its return to pre-pandemic flight capacity in early 2025 and plans to expand to 100 passenger destinations while investing heavily in fleet modernization and staff growth.

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South China Morning Post