HK airlines to increase mainland flights as exchanges surge

Hong Kong Airlines, one of the major Hong Kong-based local carriers, and Cathay Pacific Airways, another Hong Kong airline, said they would continue to expand their flight networks connecting Hong Kong and the Chinese mainland as passenger demand in the region is growing. After three exceptionally challenging years of the COVID-19 pandemic, Hong Kong Airlines said its operations returned to normal in 2023. In the Chinese mainland, flights to eight cities (totaling 10 airports) were resumed last year. After China optimized its COVID-19 response measures, the number of outstanding talent and students from the Chinese mainland in Hong Kong reached a new high in 2023.Trade and government exchanges have increased. Hong Kong Airlines said it expects travel demand to grow continuously. In 2023, the airline added more flights connecting Hong Kong and the Chinese mainland. The frequencies of its flights connecting Hong Kong with airports like Shanghai Pudong, Shanghai Hongqiao, Beijing Capital, Beijing Daxing, Hangzhou in Zhejiang province and Nanjing in Jiangsu province have rebounded to the pre-pandemic levels. The airline anticipated its average passenger load factor to rebound to 85% in 2023, as full-year data for last year are yet to be finalized. Elsewhere, the IATA announced strengthened profitability projections for airlines in 2023. The industry is expected to largely stabilize this year. Combined net profit is expected to reach $25.7b, a slight improvement over the projected 2023 profit of $23.3b.<br/>