Cathay Pacific revenue up 85.1% in 2023

Cathay Pacific has reported its first profitable year since the pandemic, bringing in a revenue of HK$94,485 million ($12,078), an 85.1% increase from 2022. This growth was driven by ‘a notable surge in demand following three years of pandemic-related restrictions,’ with the imbalance between supply and demand also resulting in high yields. Available seat kilometres were up 326% from 2022, with passenger revenue kilometres up over 397%. Passenger load factors increased by 12.1 percentage points to 85.7%. The airline expects to reach 80% of its pre-pandemic passenger flights within the second quarter of this year, with the ‘normalisation of yields