Cathay Group – parent of Cathay Pacific, HK Express and cargo subsidiary Cathay Cargo – published its November 2025 traffic bulletin on 22 December. The data show the carrier carried 2.53 million passengers in November, 26 % more than a year earlier, while capacity (ASKs) rose 22 %. Passenger load factor reached 87 %, the highest in two years, reflecting robust year-end demand on North-East Asian and South-west Pacific routes.
Strategically, the Group continued rebuilding Hong Kong’s aviation hub. Cathay Pacific inaugurated daily Hong Kong–Changsha flights and a seasonal Hong Kong–Adelaide service, while low-cost arm HK Express launched daily Hong Kong–Kota Kinabalu flights. In 2025 the Group has opened 20 new destinations, bringing the total network to 103 cities – an important milestone for corporate mobility managers that rely on one-stop connectivity through Hong Kong.
![Cathay Group’s November traffic jumps 26 % as network hits 103 cities]()
Cargo also performed strongly: tonnage grew 10 % year-on-year with AFTKs up 7 %. Exports from Hong Kong and the mainland, plus solid flows on Southeast Asia, South Asia and trans-Pacific lanes, underpinned the increase. Cathay expects the freight peak to hold well into January despite a planned step-down in dedicated freighter flying after mid-December.
Looking ahead, management projects the Group’s full-year 2025 result will beat 2024 thanks to higher capacity, record load factors and a HK$0.9 billion one-off supplier settlement gain. Mobility planners should anticipate tighter seat availability over the Lunar New Year and continue booking early, especially for North-East Asia and Australia where demand is running ahead of supply.
HK Express separately reported that it carried almost 640,000 passengers in November (+27 % YoY) with load factor topping 83 %. The budget carrier’s rapid rebound offers price-sensitive options for corporate traffic as Cathay restores premium-heavy long-haul capacity.
Strategically, the Group continued rebuilding Hong Kong’s aviation hub. Cathay Pacific inaugurated daily Hong Kong–Changsha flights and a seasonal Hong Kong–Adelaide service, while low-cost arm HK Express launched daily Hong Kong–Kota Kinabalu flights. In 2025 the Group has opened 20 new destinations, bringing the total network to 103 cities – an important milestone for corporate mobility managers that rely on one-stop connectivity through Hong Kong.
Cargo also performed strongly: tonnage grew 10 % year-on-year with AFTKs up 7 %. Exports from Hong Kong and the mainland, plus solid flows on Southeast Asia, South Asia and trans-Pacific lanes, underpinned the increase. Cathay expects the freight peak to hold well into January despite a planned step-down in dedicated freighter flying after mid-December.
Looking ahead, management projects the Group’s full-year 2025 result will beat 2024 thanks to higher capacity, record load factors and a HK$0.9 billion one-off supplier settlement gain. Mobility planners should anticipate tighter seat availability over the Lunar New Year and continue booking early, especially for North-East Asia and Australia where demand is running ahead of supply.
HK Express separately reported that it carried almost 640,000 passengers in November (+27 % YoY) with load factor topping 83 %. The budget carrier’s rapid rebound offers price-sensitive options for corporate traffic as Cathay restores premium-heavy long-haul capacity.
Source: Cathay Pacific press release
