HONG KONG: Cathay Pacific has announced a US$8.1 billion deal to purchase 14 Boeing 777-9 aircraft.
The airline confirmed the order in a filing to the Hong Kong stock exchange.
Cathay also secured the option to buy seven additional Boeing 777-9 jets.
The new aircraft are expected to be delivered by 2034.
Cathay currently operates a fleet of over 230 mostly passenger planes.
This marks the airline’s first major order with Boeing in more than a decade.
Boeing stated the deal brings its 777-9 order book to 35 aircraft.
The 777-9 is described as the world’s largest twin-engine airplane.
Boeing highlighted the aircraft’s fuel efficiency and lower emissions.
Hong Kong’s aviation sector faced severe challenges during the Covid-19 pandemic.
Strict travel restrictions kept the city isolated until late 2022.
Cathay reported a slight profit increase to US$1.27 billion in 2024.
The airline confirmed flights had returned to pre-pandemic levels earlier this year.
First-half 2025 attributable profit rose to HK$3.65 billion (US$4.65 million).
Total revenue grew 9.5 percent to US$6.92 billion in the same period.
Cathay declared an interim dividend of HK$20 cents per share.
Chairman Patrick Healy praised the company’s solid financial performance.
He cited higher passenger volumes and lower fuel costs as key drivers.
Cathay Pacific and Hong Kong Express have added 19 new destinations in 2025.
The airlines now serve over 100 passenger destinations globally.
Direct flights to Brussels recently resumed after a pandemic-induced hiatus.
However, profit margins dipped by 0.6 percent in the first half of 2025.
Healy noted short-term challenges for budget carrier HK Express.
Bookings have not yet returned to normal levels, he said.
Cathay’s share price dropped nine percent following the earnings announcement. - AFP
