国泰的功守道：穿越周期的长期主义

Core Viewpoint - The article emphasizes the dual strategy of "offensive and defensive" approaches in business operations, particularly in the context of Cathay Pacific's recent financial performance and strategic initiatives [1][3]. Financial Performance - In the first half of 2025, Cathay Pacific achieved a revenue of HKD 54.31 billion, representing a year-on-year growth of 9.5%, and a net profit of HKD 3.7 billion, up 1.1% [3]. - Passenger revenue reached HKD 37.21 billion, a year-on-year increase of 12.7%, with a total passenger volume of 13.6 million, reflecting a 27.8% growth compared to the same period in 2024 [14]. Strategic Initiatives - Cathay Pacific is expanding its route network, adding 19 new passenger routes, bringing its total to over 100 global destinations, with 23 in mainland China [6][11]. - The airline is focusing on three strategic directions for its route expansion: capturing regional economic vitality, leveraging the "Belt and Road" initiative, and enhancing intercontinental connectivity [4]. Investment in Assets - The company announced the purchase of 14 additional Boeing 777-9 aircraft, increasing its total order to 35, which signifies a strong commitment to future growth despite current challenges [9]. - Cathay Pacific's total investment in new aircraft, cabin products, airport lounges, and digital innovations exceeds HKD 100 billion, aimed at enhancing customer experience and solidifying its position as a global aviation hub [10]. Customer Experience Enhancements - Upgrades to ground services include the reopening of the "E-Lounge" in Hong Kong and the upcoming launch of a flagship lounge in Beijing, creating a comprehensive service experience for travelers [6]. - The airline's focus on customer experience is reflected in its recognition as one of the top three global airlines by Skytrax, along with awards for best economy class and in-flight entertainment [19]. Talent Development - Cathay Pacific is expanding its workforce by recruiting 1,000 new employees from mainland China, aiming to enhance its operational capabilities and support growth in the Greater Bay Area [18]. - The company has initiated a pilot training program for mainland candidates, successfully integrating new talent into its operations [18]. Market Outlook - The airline anticipates continued strong demand for passenger services in the second half of the year, despite geopolitical uncertainties and market competition [17]. - Cathay Pacific is actively exploring new cargo opportunities in regions like Southeast Asia and India to mitigate risks associated with trade tensions [17].