The Cathay Group releases traffic figures for May 2026

The Cathay Group today released its traffic figures for May 2026.

Cathay Chief Customer and Commercial Officer Lavinia Lau said: “We continued to see year-on-year growth in our travel and cargo businesses in May, albeit against a backdrop of high jet fuel prices. Cathay Pacific and HK Express together carried a combined total of over 3.3 million passengers, 14% higher than in May 2025, while Cathay Cargo carried over 150,000 tonnes of cargo during the month, representing an 11% increase year on year.

“Meanwhile, we are continuing to expand our global network. Earlier this month, Cathay Pacific announced plans to launch direct flights to Almaty in the first quarter of 2027, marking our first destination in Central Asia and strengthening Hong Kong’s connectivity with an important Belt and Road region. HK Express will also launch direct daily flights to Wuxi in July.”

Cathay Pacific

Cathay Pacific carried 17% more passengers in May 2026 compared with May 2025, while Available Seat Kilometres (ASKs) increased by 10%. In the first five months of 2026, the number of passengers carried increased by 19% compared with the same period for 2025.

Lavinia said: “May got off to a strong start, supported by solid traffic as passengers from across Asia returned from their Golden Week and other holiday travels at the beginning of the month. This was followed by robust travel demand from our home market as travellers took advantage of the Buddha’s Birthday long weekend in Hong Kong towards the end of May. These traffic flows, together with increased connecting traffic via Hong Kong as travellers look to alternative hubs due to the Middle East situation, contributed to a high load factor of 87% across our network. Meanwhile, our premium cabins continued to see high demand from business and premium leisure travel.

“Looking ahead, the outlook for the summer travel peak remains positive, particularly on our long-haul routes, while bookings for short-haul destinations are accelerating.”

Cathay Cargo

Cathay Cargo carried 11% more cargo in May 2026 than in May 2025, while Available Freight Tonne Kilometres (AFTKs) increased by 6%. In the first five months of 2026, the total tonnage increased by 8% compared with the same period for 2025.

Lavinia said: “Our cargo business continued to perform well in May, with year-on-year growth underpinned by robust demand on key trade lanes, particularly between the Chinese Mainland and Southeast Asia. In terms of our specialist solutions, Cathay Expert was boosted by semiconductor and server shipments within Asia and to the Americas, while pharmaceutical exports from Europe to the Chinese Mainland drove growth in our Cathay Pharma solution. Turning to June, we expect air cargo demand to remain resilient, and we will continue to monitor market developments closely.

“We were also pleased to announce an order for two additional Airbus A350F freighter aircraft, bringing our total commitment to eight. Together with an additional leased Airbus A330P2F freighter to be operated by Air Hong Kong, Cathay Cargo will continue to invest and strengthen Hong Kong’s status as a world-leading international air cargo hub.”

HK Express

HK Express carried more than 670,000 passengers in May 2026, an increase of 5% year on year, while Available Seat Kilometers (ASKs) grew by 4%. In the first five months of 2026, the number of passengers carried increased by 12% compared with the same period for 2025.

Lavinia said: “Demand for HK Express’s Southeast Asia routes extended beyond the Easter holidays into May, with Thailand and the Philippines remaining particularly popular. The airline’s Beijing (Daxing) service was also a bright spot, with load factor exceeding 90%. Looking ahead to the summer, HK Express is seeing a healthy pickup in bookings on various routes.”

Financial

As a result of the completion of an issuance of A shares as announced by Air China Limited (“Air China”) on 9 June 2026, the Cathay Group expects to recognise a deemed disposal gain of approximately HK$1.4 billion in the first half of 2026. This arises from the resulting dilution of the Group’s equity interest in Air China from 15.09% to 12.85%.