The Cathay Group has committed more than HK$100 billion in investments over the next seven years, in its fleet, cabin products, airport lounges and more, underpinned by its determination to become one of the world’s greatest service brands.
This investment includes the purchase of 30 Airbus A330-900 aircraft with the right to acquire an additional 30 aircraft in future. These new regional widebody aircraft are expected to be delivered from 2028, and will join the Cathay Pacific fleet principally serving destinations in Asia.
Cathay now has more than 100 new-generation aircraft in its delivery pipeline, with the right to acquire over 80 additional aircraft in future.
Cathay Pacific is also delighting customers with new cabin products launching in each of the coming three years. This begins with the airline’s all-new Aria Suite, Premium Economy and refreshed Economy coming to its redesigned Boeing 777-300ER aircraft later this year.
A world-leading First class experience onboard its 777-9s will launch in 2025, followed by a brand new cabin and flat-bed Business class product on its existing A330 aircraft in 2026.
In addition to new cabin products, complimentary Wi-Fi will be progressively offered to Business class customers and Diamond members in the coming months.
On the ground, Cathay Pacific will be launching newly designed flagship lounges in The Wing in Hong Kong, Beijing and New York over the next three years.
Today’s investment announcement comes as Cathay reports its interim results for 2024. As a Group, Cathay reported an attributable profit of HK$3.6 billion in the first half of 2024.
Cathay's low-cost subsidiary HK Express reported a loss of HK$73 million in the first half of the year due to Pratt and Whitney engine issues and regional competition.
All of the aircraft that were in long-term parking have returned, and Cathay remains on track to reach 100% of its pre-pandemic flights within the first quarter of 2025 as planned. Cathay is making good progress with increasing its Group headcount by 5,000 people this year to a total of 29,000.
Cathay Pacific and HK Express currently fly to more than 80 passenger destinations across the globe, expected to rise to 100 within 2025. So far in 2024, 10 new destinations have already been announced, eight of which have commenced services with Riyadh and Cairns coming later this year.
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