Cathay Pacific to buy 11 Airbus aircraft for US$5.1 billion
Logos of Cathay Pacific are seen at Hong Kong International Airport in Hong Kong, China August 7, 2024. REUTERS/Tyrone Siu
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HONG KONG: Cathay Pacific has ordered 11 more Airbus jets in a deal worth US$5.1 billion, the Hong Kong airline said on Wednesday (Nov 11).
The 11 A330-900 jets “will support the growth of Cathay Pacific’s regional network and provide it with more passenger and cargo capacity”, the company said in a press release.
Its filing to the Hong Kong stock exchange put the deal at US$5.1 billion, with the carrier saying the European plane maker had granted it “significant price concessions”.
Cathay also announced it was ordering three more Airbus A321neo narrowbody aircraft for its budget subsidiary HK Express, which would help build on its “growth potential with its focus on destinations in the Chinese mainland and other short-haul routes”.
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Describing the 14 jets as “state-of-the-art, fuel-efficient”, CEO Ronald Lam said they would upgrade Cathay’s total fleet and “enhance connectivity at our home hub Hong Kong”.
The 11 A330-900 aircraft are expected to be delivered between 2031 and 2035.
The carrier said in the filing they will “progressively replace” its existing fleet of mid-size widebody aircraft, and primarily serve regional destinations in Asia.
The jets could also serve longer-haul destinations at a later stage, it added.
Cathay said this year it aims to add 150 aircraft in the next 10 years if market conditions are favourable, replacing the current jets and bringing the fleet to around 300 aircraft.
It reported a 71 per cent surge in net profit in the first half of 2026, as more travellers chose to transit through Hong Kong due to the Middle East situation in the second quarter.
Source: AFP/nh
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