Core Viewpoint - Cathay Pacific Group reported significant growth in passenger and cargo traffic for November 2025, indicating a strong recovery and expansion in operations [1] Passenger Traffic - Cathay Pacific's passenger volume in November increased by 26% year-on-year, with available seat kilometers rising by 22% [1] - For the first eleven months of 2025, passenger volume rose by 27% compared to the same period in 2024 [1] - The load factor reached 87%, marking a two-year monthly high, despite the absence of long holidays in Hong Kong [1] Cargo Traffic - Cathay Pacific's cargo volume in November saw a year-on-year increase of 10%, with available cargo ton kilometers up by 7% [1] - For the first eleven months of 2025, cargo volume also increased by 10% compared to the previous year [1] Network Expansion - The group continued to expand its global route network, launching daily services to Changsha and a seasonal route to Adelaide in November [1] - In 2025, the group plans to add 20 new passenger destinations, bringing the total to 103 worldwide [1] Market Demand - Strong demand for Northeast Asia routes was driven by markets in Hong Kong, Europe, and Southeast Asia [1] - The seasonal flights to Adelaide and Christchurch were well-received, benefiting from robust transfer passenger traffic [1] - Stable export demand from Hong Kong and mainland China, along with growth in Southeast Asia, South Asia, the Middle East, and Africa routes, was noted in the cargo business [1]

Core Insights - Cathay Pacific Group reported a 27% year-on-year increase in passenger volume for the first nine months of 2025 [1] - Cargo volume for Cathay Pacific increased by 10% year-on-year during the same period [1] Passenger and Cargo Traffic Summary - In September, Cathay Pacific and Hong Kong Express together transported over 2.7 million passengers, marking a 20% increase compared to the previous year [1] - Cathay Pacific alone carried approximately 2.198 million passengers in September, reflecting a 21% year-on-year growth [1] - The cargo division saw a slight increase in September, with over 130,000 tons of cargo transported, slightly above the same month last year [1] Future Outlook - The increase in passenger volume is attributed to the peak travel season for students following the summer holiday [1] - Strong performance was noted in routes from mainland China to Hong Kong and Southeast Asia ahead of the National Day and Mid-Autumn Festival holidays [1] - Looking ahead, travel demand is expected to continue growing as the New Year holiday approaches [1] Route Expansion - Starting November 4, Cathay Pacific will launch direct passenger services between Hong Kong and Changsha, increasing the number of mainland destinations to 24 [1] - The airline plans to increase flight frequencies on routes from Hong Kong to Beijing, Guangzhou, Chengdu, and Shanghai during the winter season, with over 330 round-trip flights to mainland China each week [1]