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Photo: Cathay Pacific
Cathay Pacific has been Hong Kong’s flagship carrier and well-known for its customer service for many years. The airline is also among the top five best airlines in the world in renowned industry rankings, with its Economy class voted the World’s Best.
Recently, the airline has fully repaid the HK$19.5 billion preference shares investment and paid HK$2.44 billion in dividends to the Hong Kong SAR (HKSAR) Government over its holding period.
This, in turn, has allowed Cathay’s airlines and subsidiaries to achieve an attributable profit of between HK$3.8 billion and HK$4.8 billion in 2023 and 2024.
Today, Cathay Pacific is preparing for its subsequent growth and expansion with more than HK$100 billion in investments to elevate its customer experience further and strengthen Hong Kong’s international aviation hub status riding on the Three-Runway System.
The significant investments would include expanding its fleet, creating new cabin products and lounges, and implementing digital and sustainability efforts as it sets its sights on growing its customers, people, and its home, Hong Kong.
Spreading its wings through investments
(Photo: Cathay Pacific)
One key investment would be the purchase of 30 Airbus A330-900 aircraft, with the right to acquire an additional 30 aircraft in the future. These new regional widebody aircraft are expected to be delivered in 2028 and will join the Cathay Pacific fleet, principally serving destinations in Asia.
In the pipeline, Cathay Pacific now has more than 100 new-generation aircraft, with the right to acquire over 80 additional aircraft in future. This would enable the airline to modernise and expand its fleet rapidly and take it to the next level.
“As the city’s home airline, we are a key contributor towards the future success of the Hong Kong international aviation hub.” said Mr Patrick Healy, Group Chair of Cathay. “Our substantial investments further demonstrate our unwavering commitment to fostering Hong Kong’s ongoing economic development.”
Healy believes that the investments would enable Cathay to embark on a bold new strategy for the future, not just in scope but also in quality.
In addition to new aircraft, digitalisation efforts, such as complimentary Wi-Fi, will be progressively offered to Business-class customers and Diamond members in the coming months.
On the ground, Cathay Pacific is also launching newly designed flagship lounges over the next three years in locations such as Hong Kong and Beijing and, for the first time, a dedicated lounge in New York.
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Sustainability on the Rise
This year, sustainability is a growing trend, especially in the aviation sector, where many airlines and companies are increasingly adopting sustainability widely.
For instance, Emirates, one of Dubai’s flag carriers, has partnered with Neste, a Finnish energy and marketing company, to produce sustainable airline fuel (SAF) for flights departing from Changi Airport.
In addition, Nandina REM, a company dedicated to decarbonising the aviation industry, has also adopted a reusing, repurposing, and reducing approach through recovering high-quality materials such as carbon fibre and aluminium.
These materials are then given a second lease on life through the wings of a passenger jet that could be reborn as part of a brand-new aircraft.
Building on the momentum, Cathay Pacific’s new aircraft fleet, which boasts enhanced fuel efficiency, would enable the airline to reduce carbon emissions and achieve its net-zero carbon goal by 2050.
