Cathay Group expects to report a consolidated profit attributable to shareholders of approximately HK$6.0 billion to HK$6.5 billion for the first half of 2026, significantly higher than the HK$3.7 billion recorded during the same period last year.
The preliminary financial update comes as the Hong Kong-based aviation group reported continued year-on-year growth in both passenger traffic and cargo volumes in June, despite elevated jet fuel prices.
Cathay Pacific and HK Express carried a combined total of more than 3.1 million passengers during the month, while Cathay Cargo transported approximately 145,000 tonnes of cargo.
“Cathay Group continued our growth momentum in June, although jet fuel prices remained elevated,” said Lavinia Lau, Cathay’s Chief Customer and Commercial Officer.
Cathay Pacific Passenger Numbers Rise 12%
Cathay Pacific carried approximately 2.58 million passengers in June, an increase of 12.3% compared with the same month in 2025.
Available Seat Kilometres increased by 6%, while Revenue Passenger Kilometres rose by 8.2%. The airline recorded a passenger load factor of 87.4%, up 1.8 percentage points year on year.
During the first six months of 2026, Cathay Pacific carried more than 16 million passengers, representing an increase of 17.5% compared with the same period last year.
Cathay said passenger load factors remained strong despite June traditionally being a softer period for travel demand.
Traffic through Hong Kong was supported by travel patterns related to the situation in the Middle East, while the Dragon Boat Festival long weekend generated outbound demand to short-haul destinations.
Inbound student traffic from long-haul markets also supported demand during the second half of the month, while corporate and premium leisure travel contributed to continued strength in premium cabins.
The airline expects an encouraging summer peak, particularly across its long-haul network. Short-haul demand from Hong Kong also remains strong, with destinations in the Chinese Mainland and Northeast Asia proving particularly popular.
Cathay Cargo Reports 9% Increase in Tonnage
Cathay Cargo transported approximately 144,800 tonnes of cargo in June, up 9.3% year on year.
Available Freight Tonne Kilometres increased by 1.3%, while Revenue Freight Tonne Kilometres rose by 4.6%. The cargo load factor reached 60.4%, an increase of 1.9 percentage points compared with June 2025.
For the first half of the year, total cargo tonnage reached approximately 869,000 tonnes, up 8.5% year on year.
The company reported strong cargo flows from the Chinese Mainland into Southeast Asia, alongside steady demand within Southeast Asia.
Specialist cargo services also contributed to growth, including semiconductor shipments through Cathay Expert and pharmaceutical shipments handled by Cathay Pharma.
Looking ahead, Cathay expects cargo flows across its network to remain healthy but said it will monitor the potential impact of new European customs duties on low-value imports, particularly on e-commerce shipments.
HK Express Carries More Than 560,000 Passengers
Low-cost carrier HK Express carried 560,494 passengers in June, down 3.8% compared with the same month last year.
Capacity, measured in Available Seat Kilometres, declined by 7.4%, while the passenger load factor improved by five percentage points to 75.5%.
The lower year-on-year capacity followed the consolidation of a limited number of flights as the airline sought to offset higher fuel costs.
Despite the overall decline, routes serving the Chinese Mainland, the Philippines and Thailand recorded passenger load factors above 85%.
During the first six months of 2026, HK Express carried more than 4.16 million passengers, an increase of 9.8% year on year. The airline said bookings for July were ahead of last year as the summer travel peak approached.
HK Express has also recently launched daily nonstop flights to Wuxi, further expanding Cathay Group’s network in the Chinese Mainland.
First-Half Profit Could Reach HK$6.5 Billion
Cathay Group expects its consolidated profit attributable to shareholders for the six months ended June 30, 2026, to reach between HK$6.0 billion and HK$6.5 billion.
The figure includes an approximately HK$1.4 billion gain related to the deemed partial disposal of associates following the dilution of Cathay Group’s equity interest in Air China.
Excluding the comparison details of that transaction, the group said its first-half performance benefited from continued solid demand at Cathay Pacific and Cathay Cargo, improved results at HK Express and stronger contributions from associates.
The profit estimate remains preliminary and is based on unaudited consolidated management accounts.
Cathay Group is expected to publish its full interim financial results in August 2026.
