Cathay Pacific has ordered 30 new generation Airbus A330neo widebody aircraft for an undisclosed sum.
The deal came as the Hong Kong-based airline group said it was on track to return to 100% of pre-pandemic flights within the first quarter of 2025.
Cathay Pacific and regional arm HK Express are increasing headcount by 5,000 to a total of 29,000 people by the end of this year to support the pace of growth.
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Financial results for the six months to June 30 showed a revenue increase of almost 14% year-on-year to HK$49.6 billion, although group profits fell by 15.3% to HK$3.6 billion.
The Airbus order follows “a thorough evaluation” by the airline under a mid-size widebody fleet renewal programme.
The new aircraft will enable Cathay to modernise its earlier generation A330-300 fleet and expand its operations on high capacity regional routes.
The aircraft will also offer flexibility to serve longer range destinations.
The airline currently operates 43 A330s with an average age of almost 16 years.
Cathay Group chief executive Ronald Lam said: “As Cathay completes the final stretch of its rebuilding journey, we are turning the page to modernisation and growth, both in terms of scope and quality.
“We are delighted to announce this new order for state-of-the-art A330neo aircraft. This substantial investment reflects not only our immense confidence in Hong Kong’s leading international aviation hub status, but also represents our commitment to fostering our home city’s ongoing development.
“The A330 is an aircraft type that has been serving Cathay Pacific well for nearly 30 years.
“These new aircraft will principally serve our regional destinations in Asia, while also providing the flexibility to serve longer-haul destinations as required.
“The improved fuel efficiency of these A330neos, together with their high standards of comfort, will enable us to further elevate the experience we provide for our customers while also contributing towards our goal of net-zero carbon emissions by 2050.”
Airbus chief executive Christian Scherer said: “This latest order from Cathay, one of the world’s most experienced A330 operators, is a major endorsement of the latest generation A330neo.
“It is the natural successor for existing A330 fleets, bringing the highest levels of technical and operational commonality, and significant reductions in fuel consumption and carbon emissions. In addition, the award-winning Airspace cabin provides a whole new flight experience.
“At Cathay, the A330neo will become the backbone of its regional widebody operations, with the versatility to operate on longer routes.
“Together with its A320 Family and A350 fleets, the airline will be able to take full benefit from the unique synergies of the latest generation Airbus product line.”