The Zhitong Finance App learned that Morgan Stanley released a research report stating that it maintains Cathay Pacific (00293)'s “gain” rating. The bank pointed out that Cathay Pacific recorded a rebound in passenger kilometers in September under the simultaneous expansion of capacity. The passenger capacity rate reached 84.2%, maintaining resilience, and an increase of 1.9 percentage points over the previous year. Hong Kong Express's revenue in passenger kilometers increased by only 2.2% year on year, and the passenger load rate fell 5.2 percentage points year on year to 67.5%, mainly affected by higher fuel inflation and regional competition. Morgan Stanley said Cathay Pacific benefited from long-distance student passenger traffic before the start of the new school year, leisure demand driven by the holiday effect, and business and high-end leisure travel momentum.

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