Cathay Pacific Orders 30 A330-900s

The airline is bolstering its fleet as part of a pandemic recovery effort.

An Airbus A330neo demonstrator aircraft. (Photo: AirlineGeeks | William Derrickson)

[ Aircraft Orders and Deliveries ]August 7, 2024 11:51 am ET

By Pete Ainsley

Cathay Group announced that it will invest HK$100 billion ($12.8 billion) over the next seven years to enhance its customer experience.

The Hong Kong-based airline group said it will acquire 30 Airbus A330-900neo aircraft with the right to purchase an additional 30 aircraft in the future. The new aircraft are expected to be delivered between 2028 and 2031 and will serve Asian destinations.

The new order comes months after the acquisition of new Airbus A320neos. Cathay currently expects more than 100 new aircraft deliveries, with the right to buy an additional 80 airplanes in the future. The new aircraft include narrowbody, regional widebody, long-haul widebody, and large freighter aircraft.

In addition, Cathay Pacific says it will cooperate with Boeing, redesigning its 777-300ER with an all-new Aria Suite (business class) later this year. Also. the first Boeing 777-9 is slated to be delivered in 2025.

Cathay Pacific and HK Express, its low-cost subsidiary, currently serves 80 destinations worldwide with plans to increase to 100 destinations in 2025.

“With the Three-Runway Systems soon to propel Hong Kong’s aviation sector into a new age, the coming years are going to be an incredibly exciting time for Hong Kong and Cathay with ample new opportunities to grow,” Patrick Healy, Cathay Group Chair, said.

Route Map Expansion

In the meantime, the group has reported an attributable profit of HK$3.8 billion in interim results for the first half of 2024. This is compared to HK$4.8 billion in 2023 as a result of the normalization of ticket prices.

After 18 months of reopening its border, Hong Kong’s aviation industry is gradually returning to normal. Earlier, the airline fully repaid the HK$19.5 billion preference shares to the government. The government offered a financial lifeline to the group in response to the pandemic. Meanwhile, the group’s last aircraft in long-term parking has returned, expecting to reach full pre-pandemic operations within the first quarter of 2025.

However, the full recovery is far from over. Hong Kong is desperate for new flight operations to North America and Europe. Recently, the aviation hub launched a campaign to entice airlines to operate long-haul services.