Hong Kong’s Cathay Group has placed a firm order with Airbus for 30 A330-900 widebody aircraft worth about US$11 billion. The order follows a thorough evaluation by the airline under its mid-size widebody fleet renewal programme.
The newly-ordered 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. As with all A330neo aircraft, the fleet will be powered by the latest generation Rolls-Royce Trent 7000 engines.
Ronald Lam, Cathay Group Chief Executive Officer 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.”
Christian Scherer, Airbus Chief Executive Officer, Commercial Aircraft 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.”
The A330-900 is capable of flying 7,200 nm / 13,330 km non-stop and features the award-winning Airspace cabin, offering a superior flight experience. As with all Airbus aircraft, the A330neo is already able to operate with up to 50% Sustainable Aviation Fuel (SAF), with the aim to increase this to 100% by 2030. At the end of July, the A330 family had won 1,805 firm orders from more than 130 customers worldwide, with 1,469 aircraft in service on long, medium and short haul routes around the world.
The airline earlier reported a net profit of 3.61 billion Hong Kong dollars, equivalent to US$463.1 million, in the first six months of 2024, down from HK$4.27 billion a year earlier. It attributed the fall to the normalisation of ticket prices. Revenue for the period rose 14% to HK$49.60 billion.
The Cathay Group also said it has committed more than HK$100 billion in investments over the next seven years as part of its bold strategy to further elevate its customer experience, and strengthen Hong Kong’s international aviation hub status riding on the Three-Runway System. This encompasses major investments in its fleet, cabin products, lounges, and digital and sustainability leadership as it sets its sights on growing for its customers, its people and its home, Hong Kong.
Cathay Group Chair Patrick Healy said: “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. “As the city’s home airline, we are a key contributor towards the future success of the Hong Kong international aviation hub. Our substantial investments further demonstrate our unwavering commitment to fostering Hong Kong’s ongoing economic development. With over HK$100 billion being invested in our fleet, cabin products, airport lounges and more, we are firmly turning the page and embarking on a bold new strategy for the future, not just in scope but also in quality. Cathay is entering an exciting new era underpinned by our determination to become one of the world’s greatest service brands.”
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