The airline is set to introduce an entirely new business class experience, Aria Suite, and a premium economy product as part of the redesign of long-haul Boeing 777-300ER cabins in 2024.
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Cathay Pacific
Cathay Pacific’s annual results for 2023 marked a significant milestone with its first profit since the onset of COVID-19. The airline affirmed its commitment to the travel business, encompassing Cathay Pacific and HK Express, aiming to operate 80% of pre-pandemic passenger flights by the second quarter of 2024.
CEO Ronald Lam expressed the company’s dedication to further rebuilding in 2024, with the target of achieving full pre-pandemic capacity by the first quarter of 2025. However, he acknowledged a potential delay of up to three months from previous projections. Strategic investments in products, services, and personnel will persist in 2024, including the rollout of new cabin offerings over the next three years.
The airline is set to introduce an entirely new business class experience, Aria Suite, and a premium economy product as part of the redesign of long-haul Boeing 777-300ER cabins in 2024. Subsequent years will witness the launch of a world-leading first-class experience on Boeing 777-9 aircraft in 2025 and a new regional product featuring flat beds in business class on the Airbus A330 fleet in 2026.
In the cargo business, Lam foresees continued robust demand driven by e-commerce, particularly in Hong Kong and the Greater Bay Area. However, he cautioned about persistent trade flow imbalances impacting overall load factors. Despite expectations of decreasing yields in 2024 as the air cargo industry normalizes, they are anticipated to remain above 2019 levels.
Cathay Pacific plans to expand its workforce by approximately 20% or 5,000 people compared to 2023, reflecting its optimism and commitment to growth in the coming year.
Source: Cathay Pacific
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