Cathay Pacific aims to decide on its future mid-sized widebody fleet by the end of 2024, while maintaining its projection for full recovery by the first quarter of 2025. Cathay Pacific’s CEO, Ronald Lam, shared this during the IATA Annual General Meeting in Dubai. The airline is in the midst of a fleet renewal campaign, with specific details about the number of aircraft yet to be determined.
The new aircraft will likely replace Cathay Pacific’s older Airbus A330-300s. The airline currently operates 43 A330s, some of which will receive new regional cabin products starting in 2026. This renewal plan follows a series of aircraft orders over the past year. In December 2023, Cathay Pacific placed a $2.7 billion order for six A350 freighters. Earlier, in September, it firmed up options from a 2017 purchase agreement by signing for 32 A321neo and A320neo narrowbodies.
Recovery Projections
Lam also mentioned that Cathay Pacific and its low-cost unit, HK Express, are on track to fully recover their passenger flights by the first quarter of 2025. Currently, the airline group’s passenger flights have reached over 80% of pre-pandemic levels. Cathay Pacific had initially expected to fully recover by the end of 2024. However, a series of flight cancellations at the beginning of the year due to staffing shortages pushed the recovery timeline back by three months.
The mid-sized fleet renewal campaign was first mentioned in November 2022. Lam confirmed Cathay’s interest in new mid-sized aircraft during a FlightGlobal interview in November 2023. The airline’s strategic plans include not only fleet renewal but also enhancing its regional cabin products and expanding its flight offerings.
Cathay Pacific’s commitment to renewing its fleet and achieving full recovery by early 2025 highlights the airline’s strategic focus on modernization and growth. The upcoming decision on mid-sized widebody aircraft will play a crucial role in shaping the future of the airline’s operations.
Source: FlightGlobal
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