财联社1月2日电，国货航公告，与国泰航空签署《通用服务框架协议》，就货运空间销售代理及服务安 排、地面代理服务、软件服务、货运联营安排及服务、租赁服务等进行约定。 协议初始期限为2024年1月1日至2026年12月31日，后续可自动续期。 国泰航空通过其下属控股子公司持有国货航5%以上股份，构成关联交易。 预计2024年、2025年、2026年关联交易上限分别为2.815亿元、3.075亿元、3.365亿元人民币。 ...

证券时报网讯，摩根大通发布研究报告，给予国泰航空"增持"评级，目标价9.6港元。 报告认为国泰航空将受益于航空运费上涨、强劲现金流和财务状况改善，以及预期燃料成本下降带来的 利润率扩张。 校对：苏焕文 ...

国泰航空：前10个月载客人次同比增27.4% 财联社11月21日电，国泰航空(00293.HK)发布公告，2024年 前10个月，载客人次同比增加27.4%至1856.7818万人次，可用座位千米上升32.7%，而收入乘客千米数 则上升26.8%。 ...

上 市 公 司 交通运输 2024 年 11 月 19 日 国泰航空 (00293) ——强者恒强，香港头部航司步入新机遇期 报告原因：首次覆盖 证 券 研 究 报 告 | --- | --- | |--------------------------|-------------------------------| | 市场数据： | 2024 年 11 月 18 日 | | 收盘价（港币） | 8.91 | | 恒生中国企业指数 | 7057.1 | | 52 周最高/最低（港币） | 9.35/7.67 | | H 股市值（亿港币） | 573.64 | | 流通 H 股（百万股） | 6,438.15 | | 汇率（人民币 / 港币） | 1.0826 | 一年内股价与基准指数对比走势： -18% 32% 82% 11/2012/2001/2002/2003/2004/2005/2006/2007/2008/2009/2010/20 HSCEI 国泰航空 资料来源：Bloomberg 证券分析师 闫海 A0230519010004 yanhai@swsresearch.com 罗石 A02305240 ...

mmanin 國 泰 ニ 零 二 四 年 中 期 報 告 國泰航空有限公司 股份代號：00293 目錄 | --- | --- | |-------|--------------------------| | | | | 2 | 財務及營業撮要 | | 4 | 主席致函 | | 7 | 業務回顧 | | 23 | 財務評述 | | 26 | 審閱報告 | | 27 | 簡明財務報表 | | 49 | 按上市規則所需提供的資料 | | | | 51 免責聲明 | --- | --- | |----------------------------------------------|-------| | | | | 公司資料 | | | 國泰航空有限公司是於香港註冊成立的有限公司。 | | | 投資者關係 | | | 查詢有關國泰航空有限公司的詳情，請聯絡： | | | 國泰航空有限公司 | | | 企業事務部 | | | 香港國際機場 | | | 國泰城中座九樓 | | | 電郵： ir@cathaypacific.com | | | 國泰航空有限公司的主要國際互聯網絡網址為 | | | | | www.cat ...

运券所充报告 国泰航空 (293 HK) 1H24 业绩低于预期，但仍看好公司盈利周势表现； 维持"买入" 国泰航空 1H24 归爲殷东净利润为 36.13 亿港币，同比下降 15.3%，收入为 469.04 亿港币, 闯比上升 13.8%。净利润相比我们预期的 45 亿港币低 20%, 主因国泰半位客公里收益同比下滑 11.0%。我们考虑收益水平或将趋势性回 落，预计公司 24-26 年净利润为 77.36/79.29/81.12 亿港币（前值 88.64/ 82.16/87.08 亿港币)。我们认为公司正处于盈利周期，且有望实现更高的盈 利能力及 ROE，给予 2024E PB 1.3 倍不变（参考公司历史盈利周期 2001 年-2015 年 PB 均值 1.2x，并给予溢价)，调整目标价至 11.15 港币 (2024E BPS 为 8.58 港币； 目标价前值 11.40 港币)； 另外公司技分红率 38%技复 中期分红，及时与市场分享收益，体现良好的盈利展望，维持"买入"。 运力稳步恢复，1H24 收益水平同比向常态回归 1H24 国泰运力技部就班恢复，ASK/RPK 同增 42.7%/34.9%， ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 國泰航空有限公司 (在香港註冊成立的有限公司) (股份代號：293) 公 告 二零二四年中期業績 財務及營業撮要 集團財務統計數字 二零二四年 二零二三年 | --- | --- | --- | --- | |-------------------------------|------------|------------------------|---------------| | | | 截至六月三十日止六個月 | 變幅 | | 業績 | | | | | 收益 | 49,604 | 43,593 | +13.8% | | 國泰集團股東應佔溢利 | 3,613 | 4,268 | -15.3% | | 每股普通股盈利 | | | | | —基本 | 52.4 | 61.5 | -14.8% | | —灘薄 | 47.0 | 55.2 | -14.9% | | 每股普通股股息 | 0.20 | - | ...

清明假期已过，匀速增长的数据似乎意味着——航空板块仍不能彻底“回血”。 据交通部数据，2024年清明假期全社会跨区域人员流动量7.5亿人次，日均2.5亿人次，较23年同期日均增长56.1%，较19年同期日均增长20.9%。根据出行方式来看，铁路、公路、水路、民航分别发送旅客4974、69519、280、510万人次，分别同比增长75%、55%、85%、24%，同比19年增长21%、22%、-50%、2%。 从上述数据，可以看到，由于三天假期较短，对于航空公司而言，此次的出行需求并未产生明显的催化，并且于春节假期时间相隔较近，民航整体出行需求与此前假期相比较弱。 这对于绝大多数仍处于“扭亏”状态的民航企业而言，并非是一个“好现象”。 据不完全统计，2023年，港股市场的6家航空股，仅1家实现盈利，即国泰航空(00293)录得归母净利润为90.67亿元，同比增长225.29%;其余5家则仍处于亏损状态，而东方航空股份(00670)更是净亏损高达81.68亿元，由此科技绝大部分航空企业仍处于“未回血状态”。 (数据来源：choice) 那么，由表及里，由浅入深，航空板块为啥“回血”这么难? 从运力端、旅客量、客 ...

Financial Performance - Revenue increased by 85.1% to HKD 94,485 million in 2023 compared to HKD 51,036 million in 2022[6] - Net profit attributable to Cathay Pacific shareholders was HKD 9,789 million in 2023, a significant improvement from a loss of HKD 6,623 million in 2022[6] - Cathay Group recorded a profit attributable to shareholders of HKD 9.789 billion in 2023, compared to a loss of HKD 6.623 billion in 2022[10] - Cathay Pacific's post-tax profit for 2023 was HKD 11.341 billion, compared to a profit of HKD 1.434 billion in 2022[76] - Total revenue increased by 85.1% to HKD 94.485 billion in 2023[77] - Cathay Pacific's pre-tax profit for 2023 was HKD 10.042 billion, a significant improvement from HKD 2.456 billion in 2022[84] - Net profit for 2023 was HKD 9,790 million (USD 1,255 million), a significant improvement from a net loss of HKD 6,622 million (USD 849 million) in 2022[167] - Basic earnings per share for 2023 were HKD 140.8 cents (USD 18.1 cents), compared to a loss of HKD 112.4 cents (USD 14.4 cents) in 2022[167] - Total comprehensive income for 2023 was HKD 7,937 million (USD 1,018 million), recovering from a comprehensive loss of HKD 8,440 million (USD 1,082 million) in 2022[168] - The company reported a net profit of HKD 9,790 million for the year 2023, compared to a net loss of HKD 6,622 million in 2022[172] Operational Metrics - Available seat kilometers (ASK) surged by 326.8% to 85,607 million in 2023 from 20,056 million in 2022[6] - Passenger load factor improved by 12.1 percentage points to 85.7% in 2023 from 73.6% in 2022[6] - Cargo revenue ton kilometers (RTK) increased by 40.3% to 8,099 million in 2023 from 5,774 million in 2022[6] - Cathay Group's passenger flights recovered to 70% of pre-pandemic levels by the end of 2023, connecting Hong Kong to approximately 80 destinations[10] - Cathay Pacific carried 18 million passengers in 2023, a 541.4% increase from 2022, with an average daily passenger count of 49,300[18] - Cathay Pacific's passenger revenue reached HKD 55.95 billion, a 308.8% increase compared to 2022[18] - Cathay Pacific's cargo revenue decreased by 17.9% to HKD 22.16 billion in 2023, with cargo yield dropping by 41.3% to HKD 2.74[18] - Cathay Pacific's passenger traffic increased by 541.4% to 18 million passengers, with revenue passenger kilometers up by 396.8%[79] - Cathay Pacific's cargo load factor decreased to 62% in 2023 from 70.6% in 2022, but cargo yield remains 46.5% higher than pre-pandemic levels[18] - Cathay Pacific's passenger revenue in 2023 reached HKD 55.951 billion, a 308.8% increase compared to 2022[21] - Cathay Group operated passenger flights at 70% of pre-pandemic levels by the end of 2023, serving approximately 80 destinations[21] - Cathay Pacific carried 18 million passengers in 2023, with an average daily passenger count of 49,300, a 541.4% increase from 2022[21] - The load factor increased by 12.1 percentage points to 85.7% in 2023, while yield decreased by 17.7% to HKD 76.3 cents[21] - Available seat kilometers (ASK) increased by 326.8% in 2023, with the Americas region showing the highest increase at 213.6%[23] - The load factor for the Americas region reached 91.9% in 2023, an increase of 15.0 percentage points from 2022[23] - Cathay Pacific resumed flights from Guangzhou in March 2023, increasing frequency to twice daily[24] - The company introduced upstream port check-in and baggage check services for passengers traveling via the Hong Kong-Zhuhai-Macau Bridge starting August 2023[24] - Cathay Pacific celebrated 40 years of operations in the Americas, resuming the Chicago route in October 2023[25] - The London Heathrow route was restored to a maximum of five daily flights in 2023[26] - Cathay Pacific increased flights to mainland China to 170 weekly flights serving 15 cities and 16 airports by December 31, 2023[28] - The company operated flights to 23 destinations and 25 airports in North Asia by December 31, 2023[28] - Cathay Pacific resumed seasonal flights between Christchurch and Hong Kong in December 2023, marking the first seasonal flight restart since the pandemic[29] - The company operated flights to 7 destinations in South Asia, the Middle East, and Africa by December 31, 2023[30] - Cathay Pacific announced the purchase of up to 32 new Airbus A321neo and A320neo aircraft, expected to be delivered by 2029[32] - The company reopened all Cathay Pacific airport lounges globally, except for Paris Charles de Gaulle Airport, due to terminal maintenance[31] - Cathay Pacific launched a new lounge at Shenzhen Shekou Cruise Home Port, the first of its kind outside an airport in mainland China[31] - The company was ranked 9th in the AirlineRatings.com 2023 Top 25 Airlines in the World[32] - Cathay Pacific was awarded the "5-Star Global Airline" in the 2024 APEX Airline Awards[32] - The company received the "Best Inflight Entertainment" award in the 2023 Skytrax World Airline Awards[32] - Cathay Pacific's cargo revenue in 2023 was HKD 22.162 billion, a decrease of 17.9% compared to 2022[35] - Cargo yield in 2023 decreased by 41.3% to HKD 2.74, with an average load factor of 62%[35] - Available cargo ton kilometers (ACTK) in 2023 increased by 59.7% compared to 2022[37] - Cargo load factor in 2023 was 62.0%, a decrease of 8.6 percentage points from 2022[37] - Cargo revenue ton kilometers (RTK) in 2023 increased by 40.3% compared to 2022[35] - Total cargo tonnage in 2023 increased by 19.7% to 1.381 million tons[35] - Cathay Pacific operated cargo services to 11 destinations in the Americas and 5 in Europe as of December 31, 2023[38] - The company expanded its cross-Pacific routes in late 2023 to meet peak air cargo demand[38] - Cathay Pacific resumed cargo flights to mainland China cities starting in the summer of 2023[38] - The company increased passenger flights to Japan, South Korea, and Taiwan, noting an increase in inbound cargo tonnage[38] - Southeast Asia region saw a significant increase in cargo tonnage to Hong Kong and North Asia due to expanded belly cargo services[40] - Operated cargo services to 5 destinations and belly cargo services to 12 destinations in Southeast Asia as of December 31, 2023[40] - Operated cargo services to 3 destinations and belly cargo services to 5 destinations in the Southwest Pacific region as of December 31, 2023[40] - Cargo flights to Dhaka were reduced from 3 to 2 per week starting January 19, 2023[40] - Cargo flights to Chennai and Delhi were reduced by 1 per week starting winter 2023[40] - Cargo services to Bangalore were suspended starting winter 2023[40] - Announced purchase of 6 new Airbus A350F cargo aircraft with an option for 20 more, with first deliveries expected in early 2027[43] - Nearly half of cargo bookings are now made through the upgraded online booking platform "Book & Go"[40] - Successfully conducted the world's first ONE Record cargo arrangement pilot program with Hong Kong Airport Authority[41] - Cathay Cargo won "Air Cargo Airline of the Year" at the 49th Air Transport World (ATW) Industry Achievement Awards[45] - Cathay Pacific increased the number of redeemable seats per flight by 100% compared to pre-pandemic levels[49] - Cathay Pacific launched a full-mileage redemption website in August 2023, allowing redemptions for popular destinations starting at 3,000 miles[49] - Cathay Pacific's subsidiary, HK Express, resumed flights to pre-pandemic levels in April 2023, operating 130% of pre-pandemic capacity by the end of 2023[53] - HK Express achieved an average load factor of 86% in 2023, a 17.7 percentage point increase from 2022[53] - Cathay Pacific's subsidiary profits in 2023 were HKD 10 million, compared to a loss of HKD 1.764 billion in 2022[52] - Cathay Pacific's associated company losses in 2023 were HKD 1.562 billion, compared to a loss of HKD 6.293 billion in 2022[52] - Hong Kong Express resumed daily flights to Ningbo in March, returning to pre-pandemic levels[54] - Hong Kong Express operated weekly approximately 230 flights serving 15 destinations in North Asia as of December 31, 2023[54] - Hong Kong Express launched daily flights to Hanoi in April and resumed Nha Trang route in June, increasing Vietnam destinations to three[55] - Hong Kong Express operated weekly approximately 72 flights serving 7 destinations in Southeast Asia as of December 31, 2023[55] - Hong Kong Express introduced a customer carbon offset program in October 2023, partnering with CHOOOSE[56] - Hong Kong Express' fleet consisted of 33 Airbus narrow-body aircraft with an average age of 7.1 years as of December 31, 2023[58] - Hong Kong Express received the first 4 Airbus A321-200neo aircraft in 2023, part of a previous order of 16[58] - Hong Kong Express announced the purchase of up to 32 new Airbus A321neo and A320neo aircraft, expected to be delivered by 2029[58] - Hong Kong Express' passenger revenue increased by 749.2% to HK$5,486 million in 2023[60] - Hong Kong Express' available seat kilometers increased by 859.5% to 9,432 million in 2023[61] - Cathay Pacific Catering Services produced 19.4 million meals and handled 43,389 flights in 2023, representing a 379% and 170% increase respectively compared to 2022[63] - Cathay Pacific Cargo Terminal handled 1.4 million tons of cargo in 2023, a 17% increase from 2022[64] - Hong Kong Airport Ground Services accounted for 45% and 17% of the apron and ground handling services market at Hong Kong International Airport in 2023, with flight numbers increasing by 134% and 426% respectively compared to 2022[64] Fleet and Aircraft - The company operates a fleet of 230 aircraft, with 75 new passenger and cargo aircraft expected to join the fleet in the coming years[5] - Cathay Group's total fleet consisted of 230 aircraft with an average age of 10.8 years as of December 31, 2023[7] - Cathay Group has 75 aircraft on order, including 57 for delivery in 2026 and beyond[7] - Cathay Pacific's fleet included 181 aircraft with an average age of 11.1 years as of December 31, 2023[7] - Hong Kong Express's fleet consisted of 33 aircraft with an average age of 7.1 years as of December 31, 2023[7] - Air Hong Kong plans to return 7 A300-600F freighters by 2025 and replace them with 6 second-hand A330F freighters, maintaining a fleet of 15 aircraft[8] - The company announced the purchase of an additional 32 Airbus A321neo and A320neo aircraft, bringing the total number of new aircraft ordered to over 70, with the option to purchase an additional 52[16] - Cathay Pacific will introduce new cabin products, including a redesigned business class and premium economy class on Boeing 777-300ER aircraft in 2024[19] - The company held 28 aircraft under lease agreements as of December 31, 2023, with ownership transferring at the end of the lease term or with a reasonably certain purchase option[188] - The company held 46 aircraft under lease agreements as of December 31, 2023, with ownership not transferring at the end of the lease term[188] - The confirmed lease liability (discounted) for aircraft and related equipment was HKD 26,146 million in 2023, down from HKD 28,683 million in 2022[189] - The potential future lease payments not included in lease liabilities due to extension options were HKD 4,375 million in 2023, down from HKD 5,228 million in 2022[189] - The company prepaid HKD 32.31 billion for aircraft and related equipment to manufacturers as of December 31, 2023, up from HKD 29.64 billion in 2022[192] - The company recognized a HKD 208 million impairment reversal for three previously impaired aircraft that were returned to service[192] - The total prepayments for intangible assets were HKD 20.805 billion as of December 31, 2023, up from HKD 20.468 billion in 2022[193] - The goodwill allocated to Cathay Pacific was HKD 7.884 billion as of December 31, 2023, unchanged from 2022[195] - The discount rate used for the discounted cash flow analysis of Cathay Pacific's cash-generating unit was 9.6% in 2023, up from 9.5% in 2022[195] - The long-term growth rate assumption for cash flows beyond the forecast period was 3% in 2023, unchanged from 2022[195] Financial Position and Liquidity - The company's debt-to-equity ratio decreased to 0.88 times in 2023 from 0.92 times in 2022[6] - Cathay Group's unrestricted available liquidity stood at HKD 20 billion as of December 31, 2023[10] - The company repurchased 50% of the preferred shares in December 2023, amounting to HKD 9.75 billion, with plans to repurchase the remaining 50% by the end of July 2024[11] - The company paid approximately HKD 1.97 billion in preferred stock dividends to the Hong Kong Special Administrative Region Government in 2023[11] - Total assets as of December 31, 2023, amounted to HKD 174,115 million, with significant increases in property, plant, and equipment (HKD 8,731 million) and intangible assets (HKD 340 million)[87] - Borrowings decreased by 11.4% to HKD 68,294 million, with net borrowings (excluding lease liabilities) down by 10.1% to HKD 56,973 million[88] - Unrestricted available liquidity stood at HKD 19,985 million as of December 31, 2023, including HKD 15,530 million in liquid funds and HKD 4,460 million in committed unused credit[88] - Net debt (excluding lease liabilities) decreased by 8% to HKD 41,443 million[88] - Shareholders' equity decreased by 5.9% to HKD 60,226 million, primarily due to the redemption of HKD 9,750 million in preference shares and a reduction in other comprehensive income of HKD 1,853 million[91] - The company recorded a profit of HKD 9,789 million (excluding non-controlling interests), partially offset by dividends paid to preference shareholders of HKD 1,969 million[92] - Unused proceeds from the issuance of equity securities, including HKD 31.1 billion raised in 2020, were fully utilized for general corporate purposes in the first half of 2023[93] - The company proposed a dividend of HKD 2,768 million for the year, with a per-share dividend of HKD 0.43[87] - Total assets decreased to HKD 128,622 million in 2023 from HKD 137,512 million in 2022[169] - Net current liabilities increased to HKD 22,744 million in 2023 from HKD 17,066 million in 2022[169] - Property, plant, and equipment decreased to HKD 116,088 million in 2023 from HKD 118,855 million in 2022[169] - Intangible assets decreased to HKD 14,539 million in 2023 from HKD 14,800 million in 2022[169] - Cash and cash equivalents increased to HKD 7,894 million in 2023 from HKD 7,340 million in 2022[170] - Net cash inflow from operating activities increased to HKD 26,408 million in 2023 from HKD 17,836 million in 2022[170] - Net cash outflow from investing activities decreased to HKD 2,668 million in 2023 from HKD 2,760 million in 2022[170] - Net cash outflow from financing activities increased to HKD 23,178 million in 2023 from HKD 16,236 million in 2022[170] - Interest-bearing liabilities decreased to HKD 57,771 million in 2023 from HKD 62,463 million in 2022[169] - Share capital decreased to HKD 28,828 million in 2023 from HKD 48,322 million in 2022[169] - Cathay Pacific's total equity increased to HKD 60,033 million in

【国泰航空：2月载客180.12万人次 同比增加61.6%】财联社3月21日电，国泰航空在港交所公告称，公司2月月内的客运需求持续强劲，农历新年假期间的需求更尤为殷切。国泰航空于2月18日单日运作272客运航段，载客量突破7万人次，两者均创下自疫情以来单日最高记录。2月份载客180.12万人次，较2023年同月增加61.6%。月内收入乘客千米数按年上升50.3%。乘客运载率下跌3.8个百分点至82.4%，而可用座位千米数则按年增加57.3%。在2024年首两个月，载客人次较去年同期增加63.9%，可用座位千米上升60.6%，而收入乘客千米数则上升53.4%。 ...