Cathay Pacific Airways Limited (CPCAF.OB, CPCAY.PK), a Hong Kong-based airline company, on Wednesday recorded an increase in net profit for the first half, reflecting increased revenue, driven by higher revenue from passenger services.
For the six-month period to June 30, Cathay Pacific Airways registered a net income of HK$ 3.651 billion, or 54.8 cents per share, higher than HK$ 3.372 billion, or 47 cents per share, in the same period last year. Underlying profit moved up to HK$ 3.651 billion from HK$3.504 billion a year ago.
Operating profit was HK$ 5.926 billion as against the prior year's HK$ 6.016 billion.
Cathay Pacific registered Available Seat Kilometers (ASK) of 66.792 billion, higher than last year's 52.881 billion. Revenue Passenger Kilometers (RPK) stood at 56.651 billion as against the prior year's 43.583 billion. Passenger revenue per ASK was 51.2 HK cents, compared with 56.8 HK cents a year ago. Passenger load factor was 84.8%, up from the prior year's 82.4%.
HK Express recorded ASK of 8.810 billion as against 6.370 billion last year. RPK improved to 6.947 billion from last year's 5.415 billion. Passenger revenue per ASK was 34.1 HK cents, less than 46.9 HK cents last year. Revenue passengers carried stood at 3.791 million as against 2.839 million in 2024. Passenger load factor slipped to 78.9% from last year's 85%. Passenger yield was HK 43.2 cents, compared with 55.1 HK cents last year.
Cathay Cargo registered Available freight tonne kilometers (AFTK) of 7.336 billion as against the prior year's 6.788 billion. Revenue freight tonne kilometers were 4.302 billion, compared with 4.063 billion in 2024. Cargo revenue per AFTK was HK$1.52, less than HK$ 1.61 last year. Cargo carried moved up to 0.801 million tonnes, higher than last year's 0.719 million tonnes. Cargo load factor stood at 58.6% as against 59.9% in 2024. Cargo yield decreased to HK$2.59 from HK$2.68 in the previous year.
Revenue was HK$ 54.309 billion, up from HK$ 49.604 billion in the previous year. Revenue from Passenger Services improved to HK$ 37.212 billion from HK$ 33 billion last year.
The company will pay an interim dividend of HK 20 cents per share on October 9 to shareholders of record as of September 5.
Looking ahead, travel demand for Cathay Pacific remains robust, and the company aims to continue to add more flights and destinations for its customers.
In addition, the airline noted that Cathay Cargo is cautiously moving ahead due to the current uncertain market environment.
Further, the Group said that HK Express is facing short-term challenges. The airline has expanded quickly to new destinations; however, the airline projects that these routes will take time to mature.
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