Latest news with #HongKongExpress
Japan Today
6 days ago
- Business
- Japan Today
Hong Kong's Cathay Pacific unveils deal to buy 14 Boeing jets
Cathay Pacific has benefited from a pick-up in travel demand in Asia By Tommy WANG Hong Kong's Cathay Pacific said Wednesday it would place an U.S.$8.1-billion order for 14 Boeing jets, its first with the U.S. aircraft maker for more than a decade. In a filing to the Hong Kong stock exchange, the airline said it would "purchase 14 Boeing 777-9 aircraft" and had "secured the right to acquire up to seven additional Boeing 777-9 aircraft". Cathay already has a fleet of more than 230 mostly passenger aircraft. The new order expects the aircraft to be delivered by 2034, according to a separate filing. Cathay was one of the first buyers to commit to Boeing's 777X program when it unveiled the purchase of 21 aircraft in 2013. Boeing said in a statement the new deal brought the order book of 777-9 aircraft -- "the world's largest twin-engine airplane" -- to 35. The aircraft, designed to reduce fuel use and emissions, would meet Cathay's growing global travel demand, Boeing added. Hong Kong's aviation sector was hit hard by COVID-era policies, which imposed strict rules on travelers that kept it internationally isolated before they were lifted in late 2022. In 2024 Cathay's attributable profit rose slightly to U.S.$1.27 billion, however, and it announced earlier that year that its flights were finally back to pre-pandemic levels. On Wednesday, the firm reported its attributable profit rose slightly to HK$3.65 billion (U.S.$4.65 million) in the first six months of the year, benefiting from a pick-up in travel demand in Asia. Total revenue in that period increased 9.5 percent to U.S.$6.92 billion. The company also declared an interim dividend of HK$20 cents per share. Chairman Patrick Healy heralded a "solid financial performance" in the filing. "Our first-half result was driven by higher passenger volumes albeit with lower yields, a consistent cargo performance, and lower fuel price compared with the same period in 2024," Healy said. The company's passenger airlines, including Cathay Pacific and Hong Kong Express, have launched or announced 19 new destinations so far in 2025, with "more to come", he said, adding that they now fly to more than 100 passenger destinations. This month, the airline said it had resumed direct flights to Brussels after a long break due to the Covid-19 pandemic. But the firm also saw a drop of 0.6 percent in profit margin for the first half of the year. And Healy warned in the filing that its low-cost airline HK Express was facing short-term challenges as a pick-up in bookings was "yet to return to normal levels". Cathay's share price in Hong Kong fell nine percent following the results. © 2025 AFP
Yahoo
7 days ago
- Business
- Yahoo
Hong Kong's Cathay Pacific unveils deal to buy 14 Boeing jets
Hong Kong's Cathay Pacific said Wednesday it would place a US$8.1-billion order for 14 Boeing jets, its first order with the American aircraft maker for 12 years. The airline has "exercised the purchase rights... to purchase 14 Boeing 777-9 aircraft; and... secured the right to acquire up to seven additional Boeing 777-9 aircraft", it said in a filing to the Hong Kong stock exchange. The new order expects the aircraft to be delivered by 2034, according to a separate filing. Cathay Pacific made the announcement as it reported its attributable profit rose slightly to HK$3.65 billion (US$4.65 million), benefiting from a pick-up in travel demand in Asia. Chair Patrick Healy heralded a "solid financial performance" in the filing. The company's passenger airlines, including Cathay Pacific and Hong Kong Express, have launched or announced 19 new destinations so far in 2025, with "more to come", he said. Cathay now flies to more than 100 passenger destinations globally, he added. However, the company warned that its lowcost airlines are facing short-term challenges as pick-up in bookings is "yet to return to normal levels". twa/reb/dan Sign in to access your portfolio
HKFP
7 days ago
- Business
- HKFP
Hong Kong's Cathay Pacific unveils deal to buy 14 Boeing jets
Hong Kong's Cathay Pacific said Wednesday it would place an US$8.1-billion order for 14 Boeing jets, its first with the US aircraft maker for more than a decade. In a filing to the Hong Kong stock exchange, the airline said it would 'purchase 14 Boeing 777-9 aircraft' and had 'secured the right to acquire up to seven additional Boeing 777-9 aircraft'. Cathay already has a fleet of more than 230 mostly passenger aircraft. The new order expects the aircraft to be delivered by 2034, according to a separate filing. Cathay was one of the first buyers to commit to Boeing's 777X programme when it unveiled the purchase of 21 aircraft in 2013. Boeing said in a statement the new deal brought the order book of 777-9 aircraft — 'the world's largest twin-engine airplane' — to 35. The aircraft, designed to reduce fuel use and emissions, would meet Cathay's growing global travel demand, Boeing added. Hong Kong's aviation sector was hit hard by Covid-era policies, which imposed strict rules on travellers that kept it internationally isolated before they were lifted in late 2022. In 2024 Cathay's attributable profit rose slightly to US$1.27 billion, however, and it announced earlier that year that its flights were finally back to pre-pandemic levels. On Wednesday, the firm reported its attributable profit rose slightly to HK$3.65 billion (US$4.65 million) in the first six months of the year, benefiting from a pick-up in travel demand in Asia. Total revenue in that period increased 9.5 percent to US$6.92 billion. The company also declared an interim dividend of HK$20 cents per share. Chairman Patrick Healy heralded a 'solid financial performance' in the filing. 'Our first-half result was driven by higher passenger volumes albeit with lower yields, a consistent cargo performance, and lower fuel price compared with the same period in 2024,' Healy said. The company's passenger airlines, including Cathay Pacific and Hong Kong Express, have launched or announced 19 new destinations so far in 2025, with 'more to come', he said, adding that they now fly to more than 100 passenger destinations. This month, the airline said it had resumed direct flights to Brussels after a long break due to the Covid-19 pandemic. But the firm also saw a drop of 0.6 percent in profit margin for the first half of the year. And Healy warned in the filing that its low-cost airline HK Express was facing short-term challenges as a pick-up in bookings was 'yet to return to normal levels'. Cathay's share price in Hong Kong fell nine percent following the results.
Yahoo
06-08-2025
- Business
- Yahoo
Hong Kong's Cathay Pacific unveils deal to buy 14 Boeing jets
Hong Kong's Cathay Pacific said Wednesday it would place a US$8.1-billion order for 14 Boeing jets, its first order with the American aircraft maker for 12 years. The airline has "exercised the purchase rights... to purchase 14 Boeing 777-9 aircraft; and... secured the right to acquire up to seven additional Boeing 777-9 aircraft", it said in a filing to the Hong Kong stock exchange. The new order expects the aircraft to be delivered by 2034, according to a separate filing. Cathay Pacific made the announcement as it reported its attributable profit rose slightly to HK$3.65 billion (US$4.65 million), benefiting from a pick-up in travel demand in Asia. Chair Patrick Healy heralded a "solid financial performance" in the filing. The company's passenger airlines, including Cathay Pacific and Hong Kong Express, have launched or announced 19 new destinations so far in 2025, with "more to come", he said. Cathay now flies to more than 100 passenger destinations globally, he added. However, the company warned that its lowcost airlines are facing short-term challenges as pick-up in bookings is "yet to return to normal levels". twa/reb/dan Sign in to access your portfolio
France 24
06-08-2025
- Business
- France 24
Hong Kong's Cathay Pacific unveils deal to buy 14 Boeing jets
The airline has "exercised the purchase rights... to purchase 14 Boeing 777-9 aircraft; and... secured the right to acquire up to seven additional Boeing 777-9 aircraft", it said in a filing to the Hong Kong stock exchange. The new order expects the aircraft to be delivered by 2034, according to a separate filing. Cathay Pacific made the announcement as it reported its attributable profit rose slightly to HK$3.65 billion (US$4.65 million), benefiting from a pick-up in travel demand in Asia. Chair Patrick Healy heralded a "solid financial performance" in the filing. The company's passenger airlines, including Cathay Pacific and Hong Kong Express, have launched or announced 19 new destinations so far in 2025, with "more to come", he said. Cathay now flies to more than 100 passenger destinations globally, he added. However, the company warned that its lowcost airlines are facing short-term challenges as pick-up in bookings is "yet to return to normal levels".
