Cathay Pacific Group announced a significant investment of over HK$100 billion over the next seven years, aimed at enhancing the customer experience and solidifying Hong Kong’s status as a leading international aviation hub. This investment will be focused on fleet modernization, upgraded cabin products, new lounge facilities, and advancements in digital and sustainability initiatives.
Cathay Pacific Group Chair Patrick Healy emphasized the importance of the upcoming Three-Runway System at Hong Kong International Airport, stating, “With the Three-Runway System 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 for Cathay with ample new opportunities to grow.”
Healy further highlighted the airline’s role in Hong Kong’s economic future: “As the city’s home airline, we are a key contributor towards the future success of the Hong Kong international aviation hub. Our substantial investments further demonstrate our unwavering commitment to fostering Hong Kong’s ongoing economic development.”
A key component of this investment is the purchase of 30 Airbus A330-900 aircraft, with the option to acquire 30 more in the future. These new fuel-efficient aircraft, expected to be delivered starting in 2028, will primarily serve regional destinations in Asia and contribute to Cathay Pacific’s goal of achieving net-zero carbon emissions by 2050.
In a separate press release, Airbus CEO Christian Scherer commented on the A330neo order, saying, “This latest order from Cathay, one of the world’s most experienced A330 operators, is a major endorsement of the latest generation A330neo. It is the natural successor for existing A330 fleets, bringing the highest levels of technical and operational commonality, and significant reductions in fuel consumption and carbon emissions.”
Beyond fleet expansion, Cathay Pacific is also investing in a range of passenger experience enhancements. These include the introduction of the new Aria Suite, Premium Economy, and refreshed Economy class on its redesigned Boeing 777-300ER aircraft later this year. Looking ahead, the airline plans to launch a new First Class experience on its Boeing 777-9 aircraft in 2025, followed by a redesigned Business Class product on its Airbus A330 aircraft in 2026.
Cathay Pacific also announced plans for new flagship lounges in Hong Kong, Beijing, and New York within the next three years. The airline is also working to offer complimentary Wi-Fi to Business class passengers and Diamond members in the near future.
This investment announcement follows Cathay Pacific’s reported attributable profit of HK$3.6 billion for the first half of 2024. The airline continues its recovery from the pandemic, having fully repaid its preference shares investment and resumed dividend payments to shareholders.
Ronald Lam, Cathay Group Chief Executive Officer, expressed confidence in the future, stating, “With over HK$100 billion being invested in our fleet, cabin products, airport lounges and more, we are firmly turning the page and embarking on a bold new strategy for the future, not just in scope but also in quality. Cathay is entering an exciting new era underpinned by our determination to become one of the world’s greatest service brands.”
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