Cathay announces plans to buy 32 new single-aisle Airbus aircraft

(Reuters) -Hong Kong’s Cathay Pacific Airways on Thursday said it intends to purchase up to 32 Airbus A321neo and A320neo aircraft to invest and upgrade its fleet, bringing the carrier’s new aircraft deliveries to up to more than 70.

“These aircraft feature the latest technological enhancements to provide a quieter, more comfortable, and more fuel-efficient journey for our customers,” Cathay Group Chief Executive Officer Ronald Lam said.

Cathay on Wednesday flagged that it would be taking delivery of 32 new single-aisle Airbus aircraft by 2029 without revealing whether the aircraft would be bought or leased.

The new aircraft will join the fleets of Cathay Pacific by 2029 and is expected to cover destination routes in the Chinese Mainland and elsewhere in Asia, Cathay added.

The company, however, did not disclose a purchase value for the new orders.

Cathay has already taken delivery of 13 of its initial order for 32 A321neos that it placed in 2017, with the new purchase adding up to another 32 single-aisle Airbus aircraft to the Group’s fleet, it said.

Separately, the airline earlier reported a profit of HK$4.3 billion ($550.23 million) for the first half of 2023, its best interim result in more than a decade and a turnaround from loss in the prior three years.

(Reporting by Roushni Nair in Bengaluru; Editing by Nivedita Bhattacharjee)