The Cathay Group has committed over HKD 100 billion in investments over the next seven years to enhance its customer experience and reinforce Hong Kong’s status as an international aviation hub, particularly with the advent of the Three-Runway System.
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Cathay Pacific
The Cathay Group has committed over HKD 100 billion in investments over the next seven years to enhance its customer experience and reinforce Hong Kong’s status as an international aviation hub, particularly with the advent of the Three-Runway System.
These investments will focus on upgrading the fleet, cabin products, lounges, and advancing digital and sustainability initiatives, aiming for growth that benefits its customers, employees, and home base in Hong Kong.
Cathay Group Chair Patrick Healy emphasized that with the Three-Runway System poised to revolutionize Hong Kong’s aviation sector, this period presents exciting opportunities for both Hong Kong and Cathay. As Hong Kong’s flagship airline, Cathay plays a crucial role in the city’s future as a global aviation hub. The extensive investments underline Cathay’s commitment to Hong Kong’s economic development and its ambition to become one of the world’s leading service brands.
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Image: Cathay Pacific
Part of this investment includes the recent order for 30 Airbus A330-900 aircraft, with an option for 30 more. Deliveries will begin in 2028, primarily serving Asian destinations. Cathay has over 100 next-generation aircraft on order, with options for more than 80 additional planes, covering various aircraft types from narrowbody to large freighters. These new aircraft will modernize Cathay’s fleet, improve fuel efficiency, reduce carbon emissions, and support the airline’s goal of achieving net-zero carbon emissions by 2050.
Cathay Pacific, the group’s premium airline, will introduce new cabin products over the next three years, including the Aria Suite, Premium Economy, and updated Economy cabins on its redesigned Boeing 777-300ER aircraft later this year. A new first-class experience will debut on the 777-9s in 2025, followed by new business-class cabins on existing A330 aircraft in 2026. Complimentary Wi-Fi will also be introduced for business-class customers and Diamond members.
On the ground, Cathay will launch newly designed flagship lounges in Hong Kong, Beijing, and New York over the next three years.
This announcement comes as Cathay reports its interim 2024 results, showing an attributable profit of HKD 3.6 billion, slightly down from HKD 4.3 billion in the first half of 2023, mainly due to normalized ticket prices. Despite a slight decline in profits, Cathay has fully repaid its HKD 19.5 billion preference shares investment and paid HKD 2.44 billion in dividends to the Hong Kong SAR Government. The company is on track to reach 100% of its pre-pandemic flight capacity by the first quarter of 2025 and is increasing its workforce by 5,000 to support this growth.
Cathay remains committed to building Hong Kong as a leading international aviation hub, with its two airlines, Cathay Pacific and HK Express, currently serving over 80 destinations globally, aiming to reach 100 by 2025. This year, 10 new destinations have been announced, with services already commenced to eight of them, and Riyadh and Cairns to follow.
Source: Cathay
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