Cathay Pacific soars in February on passenger demand, cargo growth steady

Cathay Pacific reports a strong rebound in passenger traffic for February 2024, driven by the Chinese New Year holiday and increased travel between Hong Kong and mainland China. Passenger numbers surged 61.6% compared to February 2023, with a significant milestone achieved on February 18th carrying over 70,000 passengers, the most in a single day since the pandemic began.

Cargo demand remained steady with a 3% year-over-year increase, despite a dip during the holiday period. The airline highlights growth in long-haul routes and special products like pharmaceuticals and machinery parts. Cathay Pacific expects cargo demand to pick up in the latter part of March.

Looking ahead, the airline anticipates continued growth in passenger traffic leading up to Easter and the Labour Day holiday in May. The expansion of the Individual Visit Scheme and the launch of new passenger flights to Riyadh, Saudi Arabia, are expected to further boost travel demand.