Cathay Pacific will investing over HK$100 billion (US$12.8 billion) to strengthen Hong Kong’s international aviation hub status

The investments, planned for a seven years period, is part of its bold strategy to further elevate its customer experience and strengthen Hong Kong’s international aviation hub status riding on the Three-Runway System.

This encompasses major investments in its fleet, cabin products, lounges, and digital and sustainability leadership as it sets its sights on growing for its customers, its people and its home, Hong Kong.

“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,” says Cathay Group chair Patrick Healy. “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.”

This investment includes the recent announcement of Cathay’s 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. With orders covering narrowbody, regional widebody, long-haul widebody, and large freighter aircraft, these investments promise to modernise and expand Cathay’s fleet, taking it to the next level. Furthermore, the enhanced fuel-efficiency they provide will play an important role in reducing carbon emissions and helping Cathay achieve its carbon net-zero by 2050 goal.

Cathay Pacific, the premium airline within the Group, 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. This will augment the airline’s ongoing investments in dining and inflight entertainment to make the customer experience truly exceptional.

On the ground, Cathay Pacific will be launching newly designed flagship lounges in Hong Kong, Beijing and, for the first time, a dedicated lounge in New York, over the next three years.

The investment announcement comes as Cathay reports an attributable profit of HK$3.6 billion (US$469 million) in the first half of 2024. This compares with a profit of HK$4.3 billion (US$551 million) in the first half of 2023.

All this firmly demonstrates the success of Cathay’s rebuilding journey. 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. To support that pace of growth, Cathay is making good progress with increasing its Group headcount by 5,000 people this year to a total of 29,000.

“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,” says Healy. “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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