Cathay says leisure, event-driven traffic to help airline meet 2026 growth target

Tadawul All Shares Index

Tadawul All Shares Index

TASI.SA

0.00

- Hong Kong-based airline Cathay Pacific 0293.HK said on Wednesday it remained on track to meet its 2026 capacity growth targets as it expected seasonal leisure travel and event-driven traffic to drive demand despite soaring fuel costs tied to the Iran war.

Here are some details:

  • The carrier said it was on track to meet its 10% capacity growth target for 2026, despite a few cancellations in May and June.

  • It flew 17% more passengers in April compared to last year on "robust" travel demand, while flagging pressures from high jet fuel prices due to Middle East tensions.

  • It observed changes in booking behavior, with customers booking closer to departure dates amid market uncertainties.

  • The company said it will 'maintain the integrity' of its July and August flight schedules.

  • The airline said its cargo business carried 8% more cargo in April compared to a year ago, and expects the momentum to continue into May.

  • The airline extended the suspension of passenger services to Dubai and Riyadh until August-end, and redeployed routes to destinations in Europe like Manchester and Rome.