Cathay Pacific parent company Cathay Group has placed a firm order with Airbus for 30 A330-900 aircraft. The order follows a thorough evaluation by the airline under its mid-size widebody fleet renewal programme. The order will modernise its earlier generation A330-300 fleet and expand its operations on high capacity regional routes. It will also afford the airline greater flexibility to serve longer range destinations. The new fleet will be powered by the latest generation Rolls-Royce Trent 7000 engines. ""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,"" Cathay Group CEO Ronald Lam. Lam continued: ""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."" CEO of Airbus' commercial aircraft business Christian Scherer commented: ""This latest order from Cathay, one of the world’s most experienced A330 operators, is a major endorsement of the latest generation A330neo."" The aircraft are expected to be delivered in 2028. The firm order is part of the group's commitment to over HK$100bn ($12.8bn) in investments for the next seven years to further elevate its customer experience, as well as strengthen Hong Kong's international aviation hub status. The investment includes fleet, cabin products, lounges, as well as digital and sustainability leadership. ""With the three-runway system soon to propel Hong Kong's aviation sector into a new age, the coming years are going to be an incredibly exciting time for Hong Kong and for Cathay with ample new opportunities to grow."" Hong Kong International Airport is developing into a three-runway system, which is set to be ready by the end of this year. In addition, the group reported an attributable profit of HK$3.6bn ($461.7 million) in the first half of 2024, compared to a profit of HK$4.3bn ($551.5 million) in the first half of 2023. Cathay's airlines and subsidiaries, excluding exceptional items, reported an attributable profit of HK$3.8bn ($487.3 million) in the first half of the year, versus a profit of HK$4.8bn ($615.6 million) a year prior. The reduction was largely due to normalisation of ticket prices. Following 18 months since the inception of its ""rebuilding journey"", the group has fully repaid HK$19.5bn ($2.5bn) preference shares investment and paid a total of HK$2.44bn ($312.9 million) in dividends to the Hong Kong SAR Government over its holding period. In addition, it will pay its first interim dividend to ordinary shareholders totalling approximately HK$1.3bn ($166.7 million).
Cathay Group places firm order for 30 A330neo aircraft for renewal programme, reports results
