Cathay Pacific shares (HKEX:293) have continued a healthy rebound from the earnings slump in August, as September passenger data was strong.
293 – Weekly Chart
The price of Cathay Pacific shares has bounced from the 10.36 lows and is now eyeing the 11.53 price level. The high at 12.10 then comes into play if sentiment remains strong.
Stronger-than-expected traffic numbers boosted the stock recently in what is normally a quiet month for travel.
Commercial Officer Lavinia Lau said: “September typically marks a quieter period for our travel business following the end of the summer travel peak, though we continued to see year-on-year growth in the number of passengers. Cathay Pacific and HK Express carried a combined total of over 2.7 million passengers, 20% more than September 2024”.
Ahead of the air cargo peak season, Cathay Cargo also reported over 130,000 tonnes of cargo, slightly higher than the same period last year.
“Cathay Pacific is also increasing frequencies on other Chinese Mainland routes, including Beijing, Guangzhou, Chengdu and Shanghai this coming winter season,” a company statement said.
The recent numbers could set the stock up for continued gains into the year-end if the broader market remains bullish. The recent one-year trade truce between the U.S. and China will ease some of the recent market fear and could help a year-end push in stocks before institutions consider their 2026 portfolios.
