Pacific Airways (CX) is actively planning additional aircraft orders spanning widebody, narrowbody, and freighter categories, according to statements made by Group Chief Executive Ronald Lam Siu-por on Sunday, 8 June 2026. Lam made the disclosures to reporters on the sidelines of the International Air Transport Association (IATA) Annual General Meeting in Rio de Janeiro, Brazil, characterising the coming decade as a pivotal window for the Group’s commercial expansion, The Standard reported. The announcements signal that Cathay is preparing to go substantially beyond its existing order pipeline as Hong Kong International Airport (HKG) steadily ramps up operations on its newly commissioned third runway.
The disclosures come at a moment of strategic complexity for the carrier. Cathay already holds orders for more than 100 new-generation aircraft, encompassing long-delayed Boeing 777-9 widebodies, Airbus A330-900 regional twins, Airbus A350F freighters, and Airbus A320neo family narrowbodies destined for its low-cost subsidiary HK Express. Yet, Lam confirmed the Group is prepared to augment that pipeline through a combination of fresh orders and the exercise of contractual purchase options, even as elevated jet-fuel prices from the Middle East conflict compel the airline to contemplate selective capacity reductions later in 2026.
Lam’s “Golden Decade” Vision Include a Third Runway
Cathay Pacific’s appetite for further aircraft commitments is inseparable from the operational possibilities unlocked by Hong Kong’s three-runway system. The HK$142 billion (approximately US$18 billion) infrastructure project was inaugurated on 28 November 2024 and is projected to raise the airport’s annual capacity to 120 million passengers and 10 million tonnes of cargo by 2035. Cathay currently accounts for more than 50 percent of all movements at HKG, positioning it as the primary beneficiary of those additional slots.
“The next 10 years is a golden opportunity for Cathay Group’s expansion,” Lam told reporters in Rio de Janeiro, explicitly citing the acceleration of flights enabled by the third runway as the foundational rationale for further fleet investment. His remarks align closely with the Group’s publicly stated HK$100 billion-plus capital commitment, spread across fleet renewal, new cabin products, airport lounges, and digital infrastructure over a seven-year horizon. Aviation Week’s coverage of Lam at Routes World 2025 revealed that Cathay is now evaluating a “substantial” long-haul and freighter fleet renewal campaign constituting the second phase of its 2026–2035 strategic plan.
“There will be more orders for sure,” Lam stated in Rio de Janeiro, adding that fresh orders as well as the exercise of options on existing contracts remain under active consideration. We had previously documented how Cathay’s dual-brand strategy — combining the full-service Cathay Pacific network with HK Express’s expanding low-cost operations — has driven the Group to serve over 100 passenger destinations globally.
The Existing Order Book Include a Mix of Boeing and Airbus
Speaking at the IATA AGM, Lam confirmed to Aviation Week that the Boeing 777-9 delivery schedule is now planned for the end of 2027, subject to the ongoing certification process. “We haven’t got a firm schedule yet, but we are in a very close conversation with Boeing,” he said. The Boeing 777-9 will carry a range of 7,295 nautical miles (13,510 km) and is designed to reduce fuel consumption by 20 percent and noise by 40 percent compared to the legacy aircraft it replaces, making it central to both Cathay’s ultra-long-haul ambitions and its decarbonisation commitments.
Key specifications of the Boeing 777-9 that Cathay Pacific will operate:
- Range: 7,295 nautical miles (13,510 km)
- Fuel efficiency: Up to 20% lower fuel consumption than predecessor models
- Noise reduction: 40% quieter than the aircraft it replaces
- Configuration: Cathay plans to introduce fully enclosed First Class suites on the 777-9, replacing a product that has been in service since 2007
- Planned delivery start: Late 2027 (subject to Boeing certification)
- Total firm orders: 35, with 7 additional purchase rights that could take the total to 42
In August 2025, Cathay exercised options for 14 additional 777-9s, expanding its total commitment from 21 to 35 aircraft, at an estimated list-price value of US$8.1 billion. At the time, Lam described the order as enabling the airline to “continue our rich history of connecting the world with our Hong Kong hub.”
On the Airbus side, Cathay ordered six A350F freighters to replace its ageing fleet of six Boeing 747-400ERFs, with deliveries expected from 2027. The 30 Airbus A330-900s, ordered in August 2024, will replace the carrier’s older A330-300s and are scheduled to enter service from 2028. In 2026, Cathay Pacific is scheduled to receive three Airbus A320neo-family narrowbodies, while HK Express will receive two A320neos and three A321neos, reflecting the ongoing narrowbody build-up for both carriers within the Group.
HK Express Remains Airbus-Exclusive
One of the more definitive pronouncements from Lam’s briefing in Rio de Janeiro concerned Cathay’s low-cost subsidiary. HK Express will maintain a strictly Airbus-only fleet, with Lam explicitly ruling out the acquisition of short-haul Boeing aircraft for the carrier. The decision reinforces an operational posture that simplifies maintenance and training costs for the budget airline, which relies exclusively on the A320neo family.
HK Express’s expansion strategy has diversified considerably in recent years, extending beyond its traditional concentration on Japanese routes to encompass mainland China, Northeast Asia, and Southeast Asia. The airline’s low-cost model sustained losses of HK$996 million in the 2025 financial year, though the Group has affirmed a long-term path to profitability for the subsidiary as it continues to scale and improve operational efficiency.
The Airbus-only policy for HK Express stands in contrast to Cathay Pacific’s own mixed fleet, which continues to operate Boeing 777-series widebodies alongside Airbus A330s and A350s. Cathay Pacific’s current passenger fleet totals 179 aircraft, consisting of 16 A321neos, 43 A330s, 48 A350s, and 52 Boeing 777s, alongside a cargo division of 20 Boeing 747 freighters.
| Aircraft Type | In Service | Parked | Total Active Fleet | Avg. Age |
|---|---|---|---|---|
| Airbus A321 | 16 | 0 | 16 | 3.6 Years |
| Airbus A330 | 41 | 2 | 43 | 17.8 Years |
| Airbus A350 XWB | 45 | 3 | 48 | 7.7 Years |
| Boeing 747 | 18 | 2 | 20 | 14.7 Years |
| Boeing 777 | 49 | 3 | 52 | 17.3 Years |
| Total | 169 | 10 | 179 | 13.3 Years |
Data: planespotters.net
With the Airbus A350F set to begin replacing the 747-400ERF from 2027, even the cargo division is gravitating towards a predominantly Airbus composition over time.
Fuel Crisis Complicates Cathay’s Growth
Cathay Pacific’s bullish procurement outlook exists in uncomfortable tension with the near-term operational pressures imposed by the Iran conflict-driven fuel shock. The carrier confirmed in April 2026 that it would cancel approximately 2 percent of its scheduled Cathay Pacific passenger flights between 16 May and 30 June 2026, along with around 6 percent of HK Express frequencies across a similar period, to offset surging jet kerosene costs. Passenger services to Dubai International Airport (DXB) and Riyadh’s King Khalid International Airport (RUH) were suspended until 30 June 2026 as the carrier navigated corridor closures over Iranian airspace.
Cathay confirmed it would commit to operating all scheduled flights throughout the peak summer travel window of July and August 2026, but Lam conceded in Rio de Janeiro that further capacity consolidation remains conceivable for September if fuel prices do not ease. In a report published by Bloomberg, Lam said he hoped the impacts of the Middle East conflict would be resolved by that point, sparing the airline from additional cancellations. Cathay has consistently described capacity reduction as a last resort, noting that the airline remains on track to achieve its stated 10 percent passenger capacity growth target for 2026 overall.
Jet-fuel prices spiked sharply from the beginning of March 2026 following the escalation of conflict in the Middle East, placing severe cost pressure across the global industry. Cathay reported net fuel costs of HK$30.6 billion in its 2025 full-year results, an 11 percent year-on-year increase that accompanied a HK$707 million loss on oil hedging contracts. The Group hedges approximately 30 percent of its fuel consumption and has stated it does not speculate on oil prices, using hedging solely to dampen short- to medium-term volatility.
Cathay’s Leadership Transition and Record 2025 Financials
Cathay Pacific’s fleet ambitions arrive against a backdrop of concurrent developments that collectively shape the airline’s strategic posture entering the second half of 2026. On 4 June 2026, the Group announced that Executive Director and Chief Financial Officer Rebecca Sharpe will step down on 1 October 2026, retiring early from the Swire group to devote more time to personal commitments, having served as CFO since January 2021.
Her successor is Gavin March, currently Finance Director of Swire Bulk, a wholly-owned subsidiary of John Swire & Sons. March, aged 48, holds ACMA and CGMA qualifications and has previously served as financial chief of a division of Hong Kong Aircraft Engineering Company (HAECO) and as General Manager of Finance at Hong Kong Aero Engine Services (HAESL).
The leadership transition occurs at a moment of noteworthy financial strength. Cathay Pacific reported a 9.5 percent rise in net profit for the 2025 financial year, to HK$10.8 billion (approximately US$1.4 billion), its highest figure since 2010, against record group revenue of HK$116.8 billion — an 11.9 percent increase year-on-year.
The combined Cathay Pacific and HK Express operation carried more than 36 million passengers in 2025, a 27 percent year-on-year increase, while Cathay Cargo moved 1.67 million tonnes of freight with cargo revenue of approximately HK$24.3 billion. These results underpinned the Group’s confidence in projecting 10 percent capacity growth for 2026, a target Cathay reaffirmed as recently as May 2026 despite the fuel-price headwinds.
Separately, in May 2026, the Group named Guy Bradley of the Swire group as its new chairman, as Patrick Healy stepped down after presiding over Cathay’s most consequential procurement cycle in a generation. Healy had overseen the announcement of Cathay’s HK$100 billion-plus fleet investment, which former chairman Patrick Healy described as an “all-encompassing fleet renewal and expansion plan.”
What Cathay’s Additional Orders Could Look Like
While Lam declined to specify the exact types or quantities of aircraft under evaluation, the contours of Cathay’s likely procurement trajectory have been visible for some time. A Bloomberg-sourced report from late 2024 indicated that the airline’s Chief Operations Officer Alex McGowan had already described the forthcoming widebody procurement as the “final component” in a series of sequential acquisitions, following the A330neo, A320neo family, and A350F campaigns. The review was considering both the Boeing 787 Dreamliner family and additional Boeing 777X variants, as well as potential Airbus additions in the form of more A330-900s, A350-900s, or A350-1000s.
Cathay Pacific has not placed a net-new Boeing order since December 2013, when it originally committed to the 777-9 programme. Gulfnews reported in early 2026 that the carrier was poised to break that drought, with new widebody orders under active discussion — a development that would constitute a significant vote of confidence in Boeing’s recovery from its manufacturing and certification difficulties. Lam’s Rio de Janeiro comments appear to confirm that the procurement process is advancing.
For its freighter fleet, Cathay’s existing order for six Airbus A350Fs, detailed in our coverage of the A350F programme, will begin retiring the carrier’s six legacy Boeing 747-400ERFs. But with 14 Boeing 747-8F freighters still active in the Cathay Cargo fleet, the scope for further freighter acquisitions — whether additional A350Fs or an eventual Boeing 777-8F order — remains commercially substantial.
At the Fortune Innovation Forum in Hong Kong in March 2024, Lam articulated a vision of an “ABC” market — Airbus, Boeing, and COMAC — as competitive pressure from China’s state-backed aerospace sector gradually intensifies. While Cathay has made no public commitment to the COMAC C919, Lam’s positioning reflects an awareness that the long-term competitive aircraft market may look materially different from today’s duopoly — a consideration that informs how the Group stages its procurement commitments.