Cathay Pacific experienced impressive growth in October, marking a milestone with over 10,000 flights operated in a single month. The Hong Kong-based airline showed significant gains, especially in premium cabins and business travel. This surge is mainly attributed to exhibitions, conventions, and a major trade fair in China.
In October 2024, Cathay Pacific carried 2.01 million passengers, reflecting a 19.6% year-on-year increase. This growth follows the airline’s strategic route expansions and capacity boosts in recent months, leading to improved traffic and higher load factors. The airline witnessed strong demand from leisure travelers from Hong Kong and Mainland China heading to Southeast Asia, Northeast Asia, and Europe during the Golden Week holiday and the Chung Yeung Festival. Business travel remained robust, driven by conventions and the Canton Fair in Guangzhou.
Cathay Pacific’s capacity increased by 21.3% compared to last year, while demand grew by 19.1%. Although the airline’s load factor slightly dropped by 1.6 percentage points to 83.1%, it is expected to recover as demand increases. The airline expects this growth to continue into the busy holiday season, with outbound travel to Japan as a key focus and strong inbound demand from North America and Europe.
The airlines’ cargo business also saw positive results, with cargo volume increasing by 14.3% in October. The airline carried 142,323 tonnes of cargo, and its cargo load factor rose by 0.8 percentage points to 61.5%. In the first ten months of 2024, freight carried increased by 10.4%, signaling a steady recovery.
Looking ahead, Cathay Pacific plans to further expand its network. New routes to Riyadh and Cairns will launch soon, and the airline will resume flights to Hyderabad in 2025. This growth strategy positions Cathay Pacific for a strong close to 2024.
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