On March 11, Cathay Group released its 2025 financial report. During the reporting period, Cathay Group's net profit increased by 9.5% year-on-year to HKD 10.828 billion; revenue grew by 11.9% year-on-year to HKD 116.766 billion, setting a new profit record since 2011. Among them, the net profit of Cathay Group's airlines and subsidiaries increased by 13% year-on-year to HKD 9.996 billion, making it &#34;China's most profitable airline.&#34;
After the financial report was released, Cathay Pacific Airways (stock code: 00293.HK) saw its stock price rise nearly 6% during the trading session, ultimately closing up 4.4%.
Based on the annual performance, the Cathay Group's board announced the distribution of the second interim dividend of HKD 0.64 per share (1 HKD = 100 HKD cents). Together with the first interim dividend already distributed, the total dividend for the 2025 fiscal year amounts to HKD 0.84 per share, totaling approximately HKD 5.2 billion. Regarding employee compensation, in addition to the salary increase arrangements for 2026, the group will also grant employees a discretionary bonus and profit-sharing equivalent to more than 11 weeks of eligible wages.
The Wall Street Journal reported that, according to forecasts from the international financial data analysis and research platform Visible Alpha, Cathay Group's 2025 performance exceeded analysts' previous expectations of a net profit of HKD 9.32 billion and revenue of HKD 113.96 billion. The group's earnings exceeded expectations mainly due to strong net profit performance in the second half of the year, reaching HKD 7.18 billion, a 14% increase compared to the same period last year, nearly double the net profit of the first half.
The financial report also showed that in 2025, Cathay Pacific Airways' passenger revenue increased by 15.8% year-on-year to HKD 72.454 billion; cargo revenue grew by 1.2% year-on-year to HKD 24.279 billion. The passenger revenue of Hong Kong Express increased by 6.7% year-on-year to HKD 6.394 billion. The group carried a total of 36 million passengers throughout the year, a year-on-year increase of approximately 27%, setting a historical record and surpassing 2019 levels; the daily aircraft utilization rate reached 11.3 hours, an increase of 1.9 hours year-on-year; the passenger load factor was 85.3%, up 2% year-on-year; cargo volume reached 1.6 million tons, a year-on-year increase of approximately 9.5%, recovering to about 79% of 2019 levels.
According to information provided by Cathay Pacific Airways to Observer Network, the company has rapidly advanced its reconstruction over the past three years, not only expanding its route network and increasing destinations but also increasing the frequency of popular routes and continuously enhancing customer experience. With these initiatives, Cathay Pacific Airways and Hong Kong Express added 20 new destinations in 2025, allowing the group's passenger network to cover over 100 destinations worldwide.
As of the end of 2025, Cathay Pacific Airways' fleet size (including Cathay Pacific Airways, Hong Kong Express, and Dragonair) totaled 237 aircraft. It has a high proportion of wide-body aircraft, significant hub advantages, a balanced market layout, and outstanding risk resistance capabilities.
Industry analysts pointed out that Cathay Pacific Airways' 2025 financial report data indicates that in the context of increasingly fierce industry competition, only by combining strategic stability (deepening hub advantages) with tactical flexibility (service innovation, network optimization) can it maintain a leading position in the intense market competition
It is worth noting that 2025 will be the third year of Lin Shaobo's tenure as the CEO of Cathay Pacific Group.
According to the South China Morning Post, after three years of successful reconstruction, all available aircraft of Cathay Pacific have been fully equipped with resources and put into operation. Lin Shaobo stated that in recent years, the recruitment and training scale of Cathay Pacific has reached a historical high, and the employee team has now entered a stable state, matching the company's development plans.
In terms of market competition, Cathay Pacific currently has over 100 global destinations, including more than 20 destinations in mainland China and over 80 international destinations. In 2025, Cathay Pacific will add two new domestic destinations, Changsha and Urumqi, both of which have received high market recognition, especially favored by Hong Kong travelers. In the future, Cathay Pacific will rely on the newly added capacity to continue to enhance its domestic destinations and flight layout.
Cathay Pacific also stated that in 2026, the company will focus on increasing the frequency of existing network flights, exploring more new international destinations, and further enhancing the overall experience for passengers both in the air and on the ground.
Specific measures include: launching a direct flight to Seattle on March 30; continuing to upgrade more Boeing 777-300ER aircraft, equipping them with the &#34;Elegant&#34; business class; fully renovating Airbus A330-300 aircraft used for regional routes by the end of the year, introducing a new &#34;Comfort&#34; business class with flat-bed seats and direct aisle access, and introducing new seats in economy class.
In terms of ground services, Cathay Pacific's flagship lounge &#34;The Wing&#34; at Hong Kong International Airport is set to reopen after renovation, and the company plans to open its first Cathay lounge in New York.
Cathay Pacific Group Chairman He Yili stated that the current global geopolitical environment is turbulent, leading to unpredictable fluctuations in passenger and cargo volumes as well as aviation fuel prices. However, with Cathay Pacific increasing the frequency and destinations in its route network, it is expected that passenger capacity will grow by about 10% in 2026, which will also drive an increase in cargo capacity, and he is confident about the group's future development prospects.
Cathay Pacific's Customer and Business President Liu Kaishi believes that the current situation in the Middle East has raised fuel costs for long-haul routes such as those to Europe, which may have a slight impact on cargo capacity supply. However, the increase in cargo volume in 2026 will mainly rely on the release of bellyhold capacity brought about by the increase in passenger flights, and with the expansion of the passenger network, it is expected that the cargo business will also achieve synchronized growth.
In addition, Cathay Pacific Group will receive eight new narrow-body aircraft in 2026. In the future, the group will also receive over 100 new aircraft, including narrow-body, regional wide-body, long-haul wide-body, and large cargo aircraft. Along with upgrades to cabin products, lounge construction, and digital innovation investments, the total investment by the group will exceed HKD 100 billion.

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Cathay Pacific Group released its 2025 financial report, with net profit increasing by 9.5% year-on-year to HKD 10.828 billion, and revenue rising by 11.9% to HKD 116.766 billion, setting a new profit record since 2011. Cathay Pacific has become "China's most profitable airline," with its stock price rising by 4.4%. The board announced an interim dividend of HKD 0.64 per share, and employees will receive a bonus equivalent to 11 weeks' salary. Passenger revenue for 2025 increased by 15.8% to HKD 72.454 billion, with passenger volume reaching 36 million, a historical high

Why is this airline the "most profitable" with a dividend of 5.2 billion shares and an 11-week salary bonus?