Cathay Pacific orders 14 more 777X jets, half-year profit ticks higher

Aug 6 (Reuters) – Hong Kong’s Cathay Pacific Airways (0293.HK),  on Wednesday, ordered 14 more Boeing (BA.N),  777-9 jets and reported a 1% increase in first-half profit on the back of growing passenger numbers, lower fuel prices and a steady cargo performance.

The plane order exercises options secured as part of a 2013 order by the Hong Kong-based carrier for 21 of the next-generation wide-body jets, and adds options to purchase another seven in the future, the airline said.

Cathay said the 14 jets had a list price of $8.1 billion, but it had secured significant discounts, as is customary for major airlines.

The long-delayed 777-9, Boeing’s latest version of its 777 plane, has not yet been certified by the U.S. Federal Aviation Administration. Boeing CEO Kelly Ortberg said last month the model is undergoing flight testing and the planemaker hopes to start deliveries next year.

Cathay said in March it was expecting its first 777-9 delivery in early 2027.

The airline reported a first-half profit of HK$3.65 billion ($465 million), but warned of an uncertain outlook in the cargo market and continued short-term challenges for its low-cost carrier, HK Express.