Hong Kong’s Cathay Pacific snags mega Boeing deal, pledging to acquire 14 jets
Hong Kong’s Cathay Pacific Expands Fleet with 777‑X Order
The Asian carrier announced a US$8.1‑billion purchase of 14 Boeing 777‑9 aircraft, its first deal with the U.S. maker in more than a decade. The airline secured the option to acquire up to seven additional 777‑9s and has pledged delivery by 2034.
Fleet Growth and Environmental Gains
With a current fleet of over 230 passenger planes, Cathay is positioning itself for the rising global demand. Boeing noted that the 777‑9, the world’s largest twin‑engine airplane, will reduce fuel use and emissions, aligning with Cathay’s expansion plans.
Financial Performance Highlights
- First‑half attributable profit rose to HK$3.65 billion (US$4.65 m), assisted by a rebound in Asian travel demand.
- Total revenue climbed 9.5 percent to US$6.92 billion.
- An interim dividend of HK$20 cents per share was declared.
Strategic Route Enhancements
Since 2025, Cathay Pacific and Hong Kong Express have launched 19 new destinations and announced “more to come,” bringing the carrier’s network to more than 100 passenger destinations. Direct flights to Brussels resumed after a lengthy Covid‑19 hiatus.
Market Response and Outlook
Despite a 0.6 percent drop in first‑half profit margin, Chairman Patrick Healy praised the “solid financial performance.” He noted higher passenger volumes, consistent cargo performance, and lower fuel prices compared to the same period in 2024. However, Healy warned that the low‑cost carrier HK Express faces short‑term challenges, as bookings have yet to return to normal levels.
Following the results, Cathay’s share price fell nine percent in Hong Kong.
