Cathay Pacific set to invest in new aircraft to increase its market

Friday, January 5, 2024

Cathay Pacific Airways, based in Hong Kong, made an announcement about acquiring new orders for a midsized widebody aircraft. Their decision was solely made with a vision to increase their market. 

Cathay Pacific has placed a few orders for new types of aircraft in the last few months. So any additional pledges to buy aircraft would keep things going in that direction.  

In addition to this, Cathay Pacific has been instrumental in sending formal requests to acquire information for Boeing and Airbus. This has been done regarding new aircraft for the replacement of some older mid-sized widebody jets. This would be inclusive of Airbus A330s. 

Should such a request be made, it will serve as a model for the upcoming procurement procedure. The airline further told the media that they are currently evaluating options for acquiring mid-sized aircraft that are versatile and, furthermore, can undertake a wide range of missions. Not only missions, but it will also help foster passenger and cargo businesses. 

Cathay had placed a firm order back in December 2023 for the purchase of six A350 freighters. This was done in response to the need to replace its aging Boeing 747 cargo aircraft fleet. 

Currently, the company has almost 51 A330-300s in its fleet, with an average age of almost 17.4 years. This is scheduled to be replaced in the upcoming years. 

The airline involving the Airbus A330neo and the Boeing 787 Dreamliner should undertake the formal tender process.  

The carrier ordered 32 Airbus A320neo and A321neo single-aisle aircraft back in 2023, and they have pre-planned their deliveries to be completed by 2029. 

In addition, the total outstanding order for Cathay stands at more than 70 aircraft, including 21 Boeing 777-9 passenger planes, which are scheduled to be delivered in 2025. The type of certification still has an impact on the date. 

By the end of 2024, Cathay stated that it aimed to restore its capacity to pre-pandemic levels. 

The airline is still one of the global carriers most impacted by the pandemic, though. 

Compared to the same three months in 2019, Cathay’s Available Seat Miles figure, which is a common measure of total capacity flown, fell by a whopping 31 percent from October to December 2023. The global airline figure for the same period, however, was only -1%. 

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