Link: https://links.sgx.com/1.0.0/corporate-announcements/OD6V5HXXUV89D49U/b6d2c0a3ef5b383e0290143f001862f5125f222b5a05294203a168a9e994faad

Summary:

• Group revenue rose 9.5% year-on-year to HK$54.31 billion for the six months ended 30 June 2025, mainly driven by robust passenger demand and network expansion.

• Profit attributable to shareholders was HK$3.65 billion (+1.1% year-on-year); earnings per share reached HK56.7 cents (basic), with profit margin at 6.7%.

• Interim dividend declared at HK20 cents per ordinary share.

• Passenger revenue increased 14% to HK$34.21 billion; traffic up 30% to 13.63 million passengers (27.8% YoY growth), load factor improved to 84.8%.

• Average aircraft utilisation rose to 10.8 hours/day (from 9.0), and the Group operated 234 aircraft with 93 on order as of 30 June 2025.

• Cargo revenue was HK$11.14 billion (+2.2%), with cargo carried up 11.4% to 801,000 tonnes; resilience shown despite global trade uncertainty.

• HK Express (low-cost carrier) carried 3.8 million passengers (+33.5%) but posted a loss due to route expansion and lower yields driven by market shifts.

• Cash flow remains strong (unrestricted liquidity at HK$21.5 billion); net borrowings decreased 2.8% and net debt/equity ratio reduced to 1.09 times.

• Announced new destinations, lounge upgrades, inflight dining enhancements, and major fleet investment; continued to win multiple international industry awards for service and product innovation.

• Outlook remains positive due to resilient travel demand, continued network expansion, and a focus on digital transformation and operational excellence.