Cathay Pacific is joining the Business Travel Association as the Hong Kong airline looks to rebuild “better than before” following the impact of the Covid-19 pandemic.
The carrier, which is joining the UK-based BTA as a partner, said the move came at an “an ideal time as we continue to reconnect Asia and Hong Kong to the world”.
Paul Johannes, Cathay’s regional head of customer travel and lifestyle Europe, added: “We have seen a huge increase in demand for business travel to destinations in the Asia Pacific region.
“We are looking forward to working closely with the BTA to support this as we grow our flight capacity and network of destinations across the region.”
Cathay admitted that 2022 had been “challenging”, as the airline announced an annual loss of HK$6.5 billion (€800 million), which was a 18.5 per cent increase on 2021’s loss.
The increased deficit came despite Cathay’s revenue rising by 12 per cent year-on-year to HK$51 billion (€6.2 billion) in 2022, thanks to a “marked improvement” in results during the second half of the year as travel restrictions in Hong Kong were eased.
Patrick Healy, Cathay’s chair, said: “Cathay Pacific has experienced three challenging years due to the Covid-19 pandemic, with 2022 very much being a year of two halves.
“We are pleased to now be at the stage where we are rebuilding a new Cathay Pacific which Hong Kong can be proud of. We have a crystal-clear strategy that we are confident will deliver long-term success.
“To achieve this, we are focused on reconnecting. This means reconnecting Cathay Pacific with Hong Kong, the Greater Bay Area and the Chinese mainland, as well as reconnecting Hong Kong with the world.”
Cathay Pacific has been rebuilding its network to Europe in recent months, which has included “substantially” increasing flights from London Heathrow in the final two months of 2022 to meet higher demand. This has included more passengers using Hong Kong as a hub for journeys between the UK and Australia.
The airline also resumed flights to Madrid and Milan in October, followed by the restoration of Zurich services in December. Cathay is now serving nine destinations in Europe.