Summary by Futu AI
Cathay Pacific Limited released passenger and cargo volume data for May 2024 on 19 June 2024. Data shows that Cathay Pacific reached 167,8500 passengers in May 2024, up 18.4% from the same period in 2023, and revenue passenger kilometres grew by 20.8%. Although passenger ridership dropped 4.8 percentage points to 80.3%, the number of available seat kilometres increased by 28% year-on-year. In terms of freight, Cathay Pacific carried 12,1088 tonnes of cargo in May 2024, up 10.2% year-on-year, and cargo revenue per kilometre grew by 3.8%. Passenger demand recovered in May, particularly for short-haul routes, while freight demand in Hong Kong and the Greater Bay Area remained stable, the company said. Cathay Pacific has planned to resume 100% of its pre-pandemic passenger flights in the first quarter of 2025. In addition, the company has relaunched the Cathay — Special Cargo Shipping service to meet the market's demand for handling special cargo.