国泰航空(00293.HK)：1月份载客量同比增加11%

Core Viewpoint - Cathay Pacific Airways is experiencing a significant increase in passenger and cargo volumes for January 2026 compared to January 2025, driven by strong demand from overseas students and holiday travelers [1] Passenger Business - Cathay Pacific's passenger capacity is expected to increase by 11% year-on-year in January 2026, with available seat kilometers rising by 14% [1] - The demand for passenger travel remains robust, particularly due to the return of travelers after the year-end holidays and a notable recovery in business travel, with front cabin load factors performing better than in January 2025 [1] - The airline is seeing a significant increase in transfer passenger traffic as flight frequencies are increased, reinforcing Hong Kong's position as an international aviation hub [1] - There is a strong demand for leisure travel during the Lunar New Year holiday, and expectations for overall travel demand remain high leading into the Easter holiday [1] Cargo Business - Cathay Pacific's cargo volume is projected to increase by 5% year-on-year in January 2026, with available cargo ton kilometers rising by 3% [1] - The cargo business started the year relatively slowly after a peak in the previous year but continues to show year-on-year growth [1] - Specific cargo solutions, such as the transport of cherries and seafood from Oceania and pharmaceuticals from Europe and Central America, are driving demand for specialized cargo services [1] - The airline is also involved in transporting elite horses for the Longines Hong Kong International Horse Show, showcasing its expertise in animal transport [1] - Market demand is expected to gradually recover after a slowdown during the Lunar New Year holiday period [1] Hong Kong Express - Hong Kong Express recorded over 710,000 passengers in January 2026, an 8% increase compared to January 2025, with available seat kilometers increasing by 13% [1] - The growth in passenger numbers is primarily supported by strong load factors on routes to South Korea and Thailand [1] - The airline achieved a new record on February 20, carrying over 30,000 passengers in a single day [1]