Summary Hong Kong's travel industry is on the upswing with Cathay Pacific breaking the two-million-passenger mark after pandemic setbacks. Cathay Pacific has seen a significant increase in passenger numbers in July, expects demand for flights to persist, and has added new routes. July marked a successful month for Cathay Pacific, attributing robust demand to long-haul flights and new services that appeal to travelers.
Before the student riots and the onset of COVID-19, Hong Kong was the undoubted financial hub of Asia, and the city vied with Singapore for the most popular destination title. The extended travel restrictions across Northeast Asia, particularly in Mainland China, significantly delayed the post-pandemic recovery, but the pendulum is swinging back in the right direction, as evidenced by Cathay Pacific's July performance. Hong Kong is gaining momentum On Friday, Cathay Pacific released its passenger and cargo traffic figures for July, and for the first time since the pandemic, the airline broke through the two million passenger barrier in a month.
In July, Cathay Pacific (Cathay) carried 2,008,225 passengers, a 15.1% increase year-on-year (YoY) but still 39% below the number it carried in July 2019. July also showed a substantial improvement over June traffic, with an additional 160,000 passengers for a gain of 9% month-on-month.
Capacity in July 2024, as measured by available seat kilometers (ASK), increased 21.2% YoY, and with demand, as measured by revenue passe.