Hong Kong’s Cathay Pacific posts 1% rise in net profit to HK$9.88 billion

Hong Kong flag carrier Cathay Pacific Airways’ net profit rose 1 per cent to HK$9.88 billion last year against 2023, marking a second consecutive year of robust performance driven by stronger cargo and passenger demand, lower fuel prices and higher cost efficiencies.

Cathay Group chairman Patrick Healy said on Wednesday that the results were strong and driven by robust demand for travel, and revealed the company would propose its second interim dividend payment at 49 HK cents a share, taking the full year payout to 69 HK cents.

“This second consecutive year of solid financial performance is a testament to the outstanding effort and dedication of our global teams. It has enabled us to complete buybacks, pay dividends to our shareholders, reward our people and commit substantial investments,” he said.

“Our focus is now firmly on the future as we continue to do our part to elevate Hong Kong’s status as a world-leading international aviation hub connecting Hong Kong, the Chinese mainland and the world.”

Healy also said the company had completed its two-year rebuild journey, reaching 100 per cent of its pre-pandemic flights from January 2025.

He added that the group’s two airlines, Cathay Pacific and budget carrier HK Express, were embarking on plans to expand their coverage to 100 destinations this year, which he described as a “meaningful milestone” for the group.