Cathay Group announces profit of HKD 9.9 billion in 2024

Hong Kong : The Cathay Group on March 12 announced its annual results for the year 2024, showcasing a solid financial performance driven by stronger cargo demand, higher passenger volumes, lower fuel price, and higher cost efficiencies compared with the previous year. The Group reported an attributable profit of HKD 9.9 billion in 2024, which compares with a profit of HKD 9.8 billion in 2023.

Cathay Group's airlines and subsidiaries, excluding exceptional items, reported an attributable profit of HKD 8.8 billion for the full year of 2024, versus a profit of HKD 9.2 billion in 2023. Results from associates, the majority of which are recognized three months in arrears, were a full-year profit of HKD 288 million, compared with a loss of HKD 1.6 billion in 2023.

Cathay Cargo also performed very well in 2024, especially in the second half of the year.