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Aug 6, 08:05 AM
Cathay Pacific Places First Boeing Order in 12 Years for 14 777-9 Jets in $8.1 Billion Deal Amid HK$54.31B H1 Revenue
Hong Kong
Company Earnings
Business
World

Cathay Pacific Places First Boeing Order in 12 Years for 14 777-9 Jets in $8.1 Billion Deal Amid HK$54.31B H1 Revenue

Authors
  • Reuters
  • Bloomberg
  • Reuters Business
18

Cathay Pacific announced its first aircraft order from Boeing in 12 years, committing to purchase 14 Boeing 777-9 jets with an option to acquire an additional seven. The deal, valued at approximately $8.1 billion at list prices, marks a strategic investment in the future of long-haul, premium travel. The new aircraft are expected to be delivered by 2034. The announcement coincides with the release of Cathay Pacific's first-half 2025 financial results, which showed revenue of HK$54.31 billion, operating profit of HK$5.93 billion, and net income of HK$3.65 billion. Passenger services accounted for HK$37.21 billion of revenue, while cargo services contributed HK$12.76 billion. The airline's profit rose slightly by 1.1%, driven by higher passenger volumes and lower fuel costs. Despite the improved earnings, Cathay Pacific's shares fell more than 10% following warnings about declining airfares, challenges at its budget carrier, and uncertain cargo market conditions. The new Boeing 777-9 jets will expand Cathay's fleet, bringing its total 777X order book to 35 aircraft and reinforcing its long-standing relationship with Boeing over the past three decades.

Written with ChatGPT (GPT-4).

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