Cathay Pacific poised to make first Boeing order in 12 years

Cathay Pacific Airways Ltd. is poised to place an order for new aircraft from Boeing Co. for the first time in 12 years, according to people familiar with the matter.

The Hong Kong-based carrier’s latest aircraft purchase plan for additional 777X jets could be announced as soon as Wednesday, the people said, asking not to be identified because the discussions are private.

Cathay is expected to unveil its first-half financial results at the same time and may show improved earnings on robust passenger demand and lower jet fuel costs. The plane purchase plan needs to be approved by its board of directors, and the composition of the airline’s order could change.

An order for Boeing jets would be a major boost for the 777X program, which is still to be certified and is years late coming into service. Cathay’s last Boeing order was in 2013. Since then, the US planemaker has lost to rival Airbus SE on commitments amounting to about 150 jets.

A representative for Cathay didn’t immediately respond to a request for comment. A Boeing spokesperson declined to comment.  

Cathay was one of the first airlines to commit to the 777X program when it placed an order in December 2013 for 21 777-9s. 

The carrier has also been closely studying the 787 Dreamliner, an aircraft type it does not operate, as well as additional Airbus A350s, according to the people.

The climate around the latest round of plane orders has become more political with President Donald Trump combining jet orders with trade deals. 

New jets would help Cathay replace existing older-generation Boeing 777 aircraft and help support growth that it forecasts coming from an expanded Hong Kong International Airport. 

Cathay Pacific, whose major shareholders include Swire Pacific Ltd. and Air China Ltd., operates a fleet of 236 aircraft: 73 Boeing planes and 163 Airbus jets. It has agreements to buy more than 110 new aircraft, according to its 2024 annual report.

Airbus has previously scooped up consecutive orders with Cathay for passenger widebody, single-aisle and freighter jets.