CATHAY Pacific Airways expects flight volumes to fully rebound from Covid in the first few weeks of 2025, a source familiar with the matter said, as the airline’s pilot recruitment programme goes according to plan and demand for travel remains buoyant.
Hong Kong’s flag carrier is currently operating at about 80 per cent of pre-pandemic levels. The prediction for a full recovery by early 2025 is a little more optimistic than a prior projection that the airline would reach the milestone some time in the first quarter, the source said, asking not to be identified discussing matters that are private.
Representatives for Cathay did not immediately respond to a request for comment.
Cathay’s recovery gained fresh impetus after the airline added new flights to its summer and winter schedules to various destinations including Ningbo in China and Cairns in Australia. More additions are on the cards, the person said and could involve redeploying unused aircraft to add extra capacity to the US.
The expansion contrasts with the stance Cathay took in early June when it indicated it was not planning on adding any more flights until passenger volumes topped 100 per cent of pre-Covid levels.
Cathay will know for sure about its early 2025 timeframe in the coming weeks as it firms up its winter schedule from October to March, the source said. Any formal upward revision could be announced as soon as Aug 7, when Cathay is due to release its first-half financial results.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Cathay’s prior caution regarding its recovery timeline stems from the fiasco around the mass flight cancellations that occurred last Christmas and endured for about two months after it failed to roster sufficient pilots for duty.
Restoring flight capacity will remove the last legacy of Covid hanging over the airline. Cathay has already returned to an annual profit and will repay a government Covid loan at the end of the month. It’s also returned all planes that were stored in the desert in Australia.
Cathay’s recovery has also been supported by the fast growth of its low-cost unit, HK Express. HK Express is on track to grow capacity from 140 per cent of pre-Covid levels in June to 180 per cent by the end of the year.
Cirium data for July for Singapore Airlines, meanwhile, shows that versus 2019 flight levels, it’s around 7 per cent shy of returning to normality. BLOOMBERG
