Cathay Pacific Reports Record Cargo Growth in December 2024

HONG KONG – Cathay Pacific Airways reported a significant increase in cargo operations for December 2024, carrying 143,564 tonnes of cargo, an 11.7% rise compared to the same period in 2023. The airline also saw a 6.5% year-on-year increase in cargo revenue tonne kilometres (RFTKs) and a 0.6 percentage point rise in cargo load factor, reaching 61.4%.

For the entire year of 2024, Cathay Pacific transported 1.5 million tonnes of cargo, marking an 11% increase from the previous year. RFTKs grew by 5%, while available cargo tonne kilometres (AFTKs) expanded by 8.6%.

“The healthy market momentum seen in previous months continued into December, resulting in the highest tonnage of any month in 2024,” said Lavinia Lau, Chief Customer and Commercial Officer at Cathay Pacific. She attributed the growth to robust demand for e-commerce shipments from Hong Kong and the Greater Bay Area, as well as increased demand for perishables and seasonal produce from the South West Pacific and the Americas.

Lau also noted a rise in tonnage for the airline’s Cathay Expert solution, driven by the movement of machinery and engines, particularly from North Asia. However, she cautioned that cargo demand might soften in the first half of January before picking up again ahead of the Lunar New Year holiday.

On the passenger side, Cathay Pacific carried 2.24 million passengers in December 2024, a 26.4% year-on-year increase. For the full year, the airline and its subsidiaries transported over 28 million passengers, reflecting a 30.7% rise compared to 2023. Passenger load factor climbed to 84.8%, while available seat kilometres (ASKs) increased by 22.5%.

Looking ahead, Cathay Pacific remains focused on strengthening Hong Kong’s position as a leading international aviation hub by adding more flights and destinations for both passengers and cargo customers.