Cathay Pacific, once beset by immense challenges during the pandemic, has achieved a historic milestone. On December 15, 2024, Cathay Pacific and its budget subsidiary, HK Express, transported 100,856 passengers in a single day—the highest since its two-year rebuilding journey began. This marks not only a return to form but also a testament to the airline’s resilience amid adversity.
The Struggles of Pandemic-Era Cathay
Cathay Pacific’s road to recovery has been far from smooth. Hong Kong’s stringent zero-COVID policies—among the most restrictive globally—plunged the airline into an existential crisis. The company slashed 8,500 jobs in 2020, shuttered its regional carrier Cathay Dragon, and witnessed an exodus of talent. Pilots faced pay cuts of up to 40%, and many expatriate crew members left amid Hong Kong’s prolonged hotel quarantines and political uncertainty.
By late 2024, Cathay’s pilot workforce was still 40% below 2019 levels, and cabin crew numbers were halved compared to pre-pandemic figures. Operational challenges mounted as pilots maxed out their legal flying hours, leading to flight cancellations and passenger dissatisfaction. The airline’s reputation suffered, with staff morale plummeting and public confidence shaken. Even Hong Kong’s Chief Executive, John Lee, publicly criticized Cathay’s service standards during a peak holiday travel period.
In stark contrast, rivals like Singapore Airlines emerged stronger, recovering faster and restoring pre-pandemic capacity ahead of schedule. Singapore Airlines also retained the majority of its pilots, offering stability that Cathay struggled to match.
A Record-Breaking Recovery
Despite these hurdles, Cathay Pacific is now soaring to new heights. Over the year-end travel peak, the Cathay Group surpassed the 100,000-passenger mark on eight separate days, an extraordinary achievement considering its tumultuous recent history. CEO Ronald Lam heralded the milestone as a turning point, stating, “The past year saw unprecedented progress and expansion for the Cathay Group. A new chapter has now begun.”
Cathay Pacific has also resumed key routes, including seasonal flights to Cairns, Australia, and is launching new long-haul services in 2025 to Hyderabad, Dallas, Munich, and Brussels. HK Express, meanwhile, has expanded its network in Japan, adding Shizuoka and soon Sendai. Together, the two airlines are poised to reach 100% of pre-pandemic capacity, operating flights to 100 destinations by the end of 2025.
Broader Industry Context
Cathay’s recovery underscores broader trends in the aviation industry. Airlines across the globe are vying to meet surging travel demand, but challenges remain. Pilot shortages, competitive salaries, and operational reliability are pressing concerns. While Cathay has made strides, its stock lags behind rivals like Singapore Airlines, which has seen significant share price growth due to its robust recovery.
The Greater Bay Area initiative also reflects Cathay’s strategic pivot. As the airline aligns itself more closely with Beijing, it positions Hong Kong as a critical hub connecting southern China to the world. Cathay’s move to open a Shenzhen office as an “extended headquarters” signals its commitment to this vision, though some employees remain skeptical about its long-term prospects.
Conclusion: Resilience and Renewal
Cathay Pacific’s journey from pandemic-induced turmoil to a record-breaking rebound is a story of resilience. While operational and reputational challenges remain, the airline’s milestone reflects its determination to reclaim its position as a global aviation leader. As Cathay enters a new chapter, it symbolizes hope—not just for Hong Kong’s recovery but for the entire aviation industry navigating the post-pandemic landscape.