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Hong Kong’s Cathay group carries over 20 million passengers in 2023, with analyst estimating firm back at 56% of pre-pandemic levels

  • Cathay Pacific accounted for 18 million passengers in 2023 while budget unit HK Express carried the rest
  • Analyst says group’s performance is in line with Hong Kong airport’s overall recovery, indicating it has not lost market share

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The firm’s performance last year represented a near sevenfold jump from 3 million passengers in 2022.  Photo: Elson Li

Hong Kong’s Cathay group carried more than 20 million passengers last year, the company revealed on Wednesday, with an analyst saying the figure represented 56 per cent of the pre-pandemic level in 2019.

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The group operates premium service carrier Cathay Pacific Airways and budget unit HK Express, with the former accounting for 18 million passengers in 2023.

Independent aviation analyst Brendan Sobie estimated HK Express carried 4 million passengers.

The Cathay group’s recovery rate was about 56 per cent, Sobie said, explaining it carried 22 million passengers in 2023, compared with 39 million in 2019.

He noted the statistics showed the group’s post-pandemic recovery was in line with that of Hong Kong International Airport, which recorded 39.5 million passengers in 2023, or 55 per cent of 2019 figures. It recorded 71.5 million passengers in 2019.
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