Cathay Pacific plans more aircraft orders across fleet, CEO says

Cathay Pacific Airways (0293) is considering additional orders for widebody, narrowbody and freighter aircraft as it looks to expand rapidly over the next decade, taking advantage of a third runway at its Hong Kong hub, chief executive Ronald Lam Siu-por said on Sunday.

Lam said this could include fresh orders and exercising options to expand previous orders. Cathay already has more than 100 new aircraft on order, including long-delayed Boeing 777X long-haul planes, Airbus A350 freighters and smaller Airbus A320neo passenger jets for its low-cost HK Express subsidiary.

“There will be more orders for sure,” Lam told reporters on the sidelines of an aviation summit in Rio de Janeiro.

“The next 10 years is a golden opportunity for Cathay Group’s expansion,” Lam added, citing the ramping up of flights at Hong Kong airport’s third runway.

Lam said HK Express would maintain an Airbus-only fleet, ruling out the purchase of short-haul aircraft from rival Boeing.

He added that he does not expect Cathay Pacific to cut further flight capacity despite the surge in fuel costs from the Iran war, and that the airline remains on track to achieve 10 percent capacity growth this year.

Besides, Lam said that Cathay Pacific may cut some flights in September if fuel prices remain high, adding that the airline has committed to running all its flights in the hot summer travel period between July and August.

Reuters and staff reporter

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