Cathay Pacific is reportedly preparing to place its first aircraft order with Boeing in 12 years. Sources familiar with the matter indicate that the Hong Kong-based carrier’s purchase plan for additional 777X jets could be announced as early as Wednesday. These individuals requested anonymity due to the private nature of the discussions. Cathay Pacific is an international airline registered and based in Hong Kong that offers scheduled passenger and cargo services to destinations worldwide. Boeing is a leading global aerospace company that designs, manufactures, and services commercial airplanes, defense products, and space systems for customers in more than 150 countries.
The airline is expected to unveil its first-half financial results concurrently, potentially showcasing improved earnings driven by strong passenger demand and reduced jet fuel costs. The proposed aircraft purchase plan is subject to board approval, and the final composition of the order remains subject to change.
Securing an order from Cathay Pacific would represent a significant boost for Boeing’s 777X program, which is still undergoing certification and has experienced substantial delays in its entry into service. Cathay’s most recent Boeing order dates back to 2013. Since then, Boeing has lost out to Airbus on commitments for approximately 150 aircraft.
Representatives for Cathay Pacific did not immediately respond to requests for comment. A Boeing spokesperson declined to comment on the matter. Boeing shares experienced a 1 per cent increase in after-hours trading. Cathay Pacific was trading 0.5 per cent lower on Wednesday ahead of its earnings announcement scheduled for 2pm AEST.
