CATHAY PAC AIR(HK:00293) Di Yi Cai Jing·2025-08-06 13:57Financial Performance - Cathay Pacific reported a net profit of HKD 36.51 billion for the first half of the year, a year-on-year increase of 1.1%, with revenue reaching HKD 543.09 billion, up 9.5% [2] - The growth in performance is attributed to an increase in passenger volume, stable cargo performance, and a decrease in fuel prices, with fuel costs down by 13% compared to previous years [2] Passenger Operations - Passenger capacity increased by 26.3% year-on-year, with passenger turnover rising by 30% and average daily passenger load increasing by 27.8%, resulting in a seat load factor of 84.8%, up 2.4 percentage points [2] - Despite the strong demand for passenger services, overall yield declined by 12.3% due to increased market capacity, with significant capacity additions on routes to the US and Europe [2] Cargo Operations - Cathay Pacific's cargo revenue increased by 2.2% year-on-year, with cargo capacity up by 8.1% and cargo volume rising by 11.4%, although yield decreased by 3.4% [3] - The cargo sector faces challenges due to geopolitical factors and changes in customs policies, particularly affecting cross-border logistics [3] - The company is focusing on diversifying cargo demand by exploring markets in Southeast Asia and India, while also investing in non-e-commerce cargo segments such as perishables and pharmaceuticals [3] Strategic Initiatives - Cathay Pacific plans to continue expanding its domestic routes in mainland China and has established IT offices in Guangzhou and Shenzhen, with a target of increasing mainland staff to 4,000 by the end of the year [4] - The company is enhancing its service offerings and optimizing its network to attract more transit passengers, with half of its business currently coming from transit traffic [3][4]