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Cathay Pacific company history timeline

1946

By the end of 1946 the airline had acquired a second DC-3 and had carried 3,000 passengers and 15,000 kilos of cargo between Australia and Asia.

1946: American and Australian pilots establish Cathay Pacific in Shanghai.

1947

In 1947 Cathay Pacific added five more DC-3s and two smaller aircraft known as Catalina 'flying boats,' which allowed the airline to begin service to Macao, a nearby Portuguese colony on the coast of China.

1948

Back in July, 1948, a Cathay Pacific-subsidiary-operated Consolidated PBY-5A Catalina flying from Macau to Hong Kong was the victim of the first hijacking of a commercial plane in the world, followed by a crash that lead to 26 deaths, leaving one survivor.

By 1948 Cathay Pacific had a passenger ticket office in the lobby of the Peninsula Hotel, among the colony's most prestigious establishments.

In 1948, Butterfield & Swire (now known as Swire Group) bought 45% of Cathay Pacific, Australian National Airways took 35%, while Farrell and de Kantzow kept 10% each.

1950

Under Swire, another important sister company, HAECO, was established in 1950.

1951

Eventually de Kantzow tired of Swire's control and announced his resignation from Cathay Pacific in April 1951.

Cathay Pacific suffered losses in 1951 approaching HK$1.5 million, a figure which increased over the next few years.

1953

In 1953 the London-based P & O shipping company paid HK$2.5 million for a 31.2 percent stake in the airline.

1955

Sold in 1955, “Betsy” was discovered, almost 30 years later flying cargo around the Australian outback.

1958

In September 1958, a new 8,350-foot runway was opened at Hong Kong's Kai Tak airport, in time for the arrival of Cathay Pacific's new DC-6 aircraft.

1959

In 1959, Cathay Pacific acquired Hong Kong Airways, and became the dominant airline in Hong Kong.

1961

In this instance, the matter was settled in August 1961 when Qantas, with the help of government subsidies, began flying newer, more expensive Boeing 707s to Hong Kong, forcing Cathay Pacific out of that particular market.

1962

In January 1962, Cathay Pacific announced that it would purchase new Convair 880 jets manufactured by General Dynamics in the United States.

1963

During this time there had been changes in management as well: in 1963 Gething and Steele retired and were succeeded by Don Delaney as engineering director and Dave Smith as flight superintendent.

1964

The first jets were introduced in 1964, namely the Convair 880.

In 1964, it carried its one millionth passenger and acquired its first jet engine aircraft, the Convair 880.

1965

In 1965, Jock Swire retired, leaving Cathay Pacific in the hands of his two sons, John and Adrian.

1967

In 1967, it became an all jet airline with the replacement of its last Lockheed L-188 Electra with a Convair 880.

1968

By 1968, Cathay Pacific had five of the jets in its fleet, having retired or sold its other aircraft.

1970

1970 - Two new Discoveries Our first-ever lounge opens at Kai Tak Airport.

1972

On June 15, 1972, one of Cathay Pacific's Convair jets was involved in what seemed at first to have been a midair collision over Vietnam.

1973

Asian laborers were increasingly in demand throughout the Gulf following the 1973 oil crisis and newly wealthy Arab sheiks were eager to purchase the high-tech electronic products then available in Hong Kong.

1974

Charged with sabotage and murder, in May 1974 the policeman was found not guilty; no further suspects were ever brought to trial.

By 1974, eleven 707s had been added to the airline's fleet.

In 1974, Cathay Pacific almost purchased the McDonnell Douglas DC-10 to open a new flight route.

1976

In July 1976 it began operating a Boeing 707 freighter from Hong Kong to Seoul, Bangkok and Singapore.

The success of the Australian run was followed in 1976 by thrice-weekly flights to the Arabian Gulf, first to Bahrain, and later to Dubai in the United Arab Emirates.

1979

First Boeing 747 was acquired in 1979, as the airline started to fly to London.

1981

In 1981, Cathay Pacific carried over three million passengers and 97 million kilos of cargo to 23 destinations.

1982

In 1982, Cathay Pacific Airways introduced Cathay Pacific Cargo, which provided cargo service to ingratiate the trend of Hong Kong, becoming one of the largest re-export trading ports of the world.

1983

Another international destination added in 1983 was Vancouver, which had one of the largest Chinese communities abroad.

1984

In 1984 Bluck, who had become chairman of Cathay Pacific, answered charges that Asian airlines were prospering because of the low wages paid to their workers and lower overheads than faced by Western airline carriers.

1986

On 15 May 1986, the airline went public and was listed in the Main Board of the Stock Exchange of Hong Kong.

In 1986 Cathay Pacific carried nearly 4.2 million passengers and 182 million kilos of cargo on its way to becoming a beneficiary of the economic boom then developing in the Asian Pacific region.

1987

In anticipation of the change in government, the Swire Group announced in January 1987 that it was reducing its share of ownership in Cathay Pacific.

1987: China invests in Cathay Pacific through CITIC.

1990

The opening of China's airways raised the prospect of CX flying passengers directly to the mainland again, rights the carrier had lost after it acquired a portion of Dragonair in 1990.

1991

Transporting freight had contributed approximately 20 percent of overall airline revenue in the first six months of 1991.

1992

Peter Sutch led Cathay Pacific as managing director beginning in 1992.

1994

In 1994, the airline launched a program to upgrade its passenger service, including a HK$23 million program to update its image.

1996

1996: Swire reduces its holdings to 44 percent.

1997

Scheduled to open in 1997, the new airport was expected to face increasing competition from low-cost airports in neighboring Macao and Shenzen, China.

1998

On 21 May 1998, Cathay Pacific took the first delivery of the Boeing 777-300 at a ceremony in Everett.

On Monday, 6 July 1998, Cathay Pacific terminated flights from Kai Tak International Airport to London Heathrow Airport after over 73 years of operation.

Cathay Pacific temporarily took over the domestic and international operations of Philippine Airlines during its two-week shutdown from 26 September to 7 October 1998.

The cost-cutting was not sufficient to avoid a loss of HK$542 million (US$70 million) for 1998, its first in 36 years. (Most of this came from write-offs of older aircraft.) A falling share price prompted Hong Kong to invest in both Cathay and Swire.

1998: Cathay Pacific posts its first loss in 36 years.

1999

Cathay Pacific is a founding member of the Oneworld Alliance. (February, 1999)

1999 – Loyalty rewarded The Asia Miles programme is born, allowing members to earn and redeem air miles as they travel and shop.

The company posted a profit of HK$2.2 billion in 1999 on sales of HK$28.7 billion.

Cathay Pacific adopted a new corporate identity in 1999.

2000

On the 19th of May, 2000, Cathay Pacific operated the first commercial non-stop transpolar flight from Canada with its Flight 829 from Toronto to Hong Kong.

Despite the Asian financial crisis, the airline had a record HK$5 billion profit in 2000.

2001

On 9 July 2001, reportedly following a comprehensive review of the employment histories of all its pilots, the company fired 49 of its 1,500 pilots.

In 2001, the Hong Kong Aircrew Officers Association (HKAOA) launched a "work to rule" campaign to further its campaign for pay improvements and changes to roster scheduling practices.

The airline later offered the 49 pilots it terminated in 2001 the chance to reapply for pilot positions with its cargo division, guaranteeing such applicants first interviews, subject to passing psychometric testing.

2007

In 2007, work began straight away to better align the two carriers’ networks and reduce connecting times in the Hong Kong hub.

2008

In June 2008, Cathay Pacific entered into a plea bargain with the United States Department of Justice in respect of antitrust investigations over air cargo price-fixing agreements.

The airline at the time estimated that it would face no further cash costs from the hedges if the average market price stood at US$75, enabling it to recoup provisions it made in 2008.

2009

On 11 November 2009, 18 of the 49ers succeeded in the Hong Kong Court of First Instance concerning their joint claims for breach of contract, breach of the Employment Ordinance, and defamation.

2010

On 24 December 2010, judges Frank Stock, Susan Kwan and Johnson Lam of the Court of Appeal overturned the judgment of the lower court to the extent that the claim for wrongful termination of the contract was dismissed.

2011

The leader of the 49er Plaintiffs, Captain John Warham, launched a book titled The 49ers – The True Story on 25 March 2011.

In 2011, the company started to strengths Hong Kong’s role as an airfreight hub and began the process of building the new Cathay Pacific Cargo Terminal.

2012

On 26 September 2012, 11 years after they were sacked, the 49ers were finally judged to have won the 3 prime issues of their legal case: breach of contract, breach of the Employment Ordinance, and defamation.

2012 – Premium Economy launches

2014

2014 – Best airline in the world

2015

In November 2015, Cathay Pacific revealed a refreshed livery, featuring its trademark, the “brushwing” logo an all-green tail, but with a simpler paint scheme, and its latest motto – “Life Well Travelled”, also used for its subsidiary, Dragonair.

2016

In January 2016, Cathay Pacific announced it was rebranding Dragonair as Cathay Dragon.

2017

As of 31 December 2017, the airline is still 45% owned by Swire Group through its subsidiary Swire Pacific Limited, as the largest shareholder.

2018

In June 2018, Cathay Pacific received its first Airbus A350 1000 aircraft of an order of 20, becoming the second airline in the world to fly the long-range jet.

2019

In July 2019, Cathay Pacific completed the acquisition of Hong Kong Express Airways, a low-cost carrier that provides scheduled service to 27 destinations in Asia.

2020

In March 2020, Cathay Pacific announced it expects a “substantial” loss in the first half of 2020 as the coronavirus epidemic, which hit the aviation industry hard because of travel bans and quarantine measures, forced it to cancel as much as 75% of flights at one point.

On 21 October 2020, Cathay Pacific announced that it would shut down all operations of Cathay Dragon and merge it with its parent company due to the lack of customers and heavy economic problems brought by the COVID-19 pandemic.

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Founded
1946
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Headquarters
El Segundo, CA
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Cathay Pacific competitors

Company nameFounded dateRevenueEmployee sizeJob openings
Korean Air1962$11.2B125-
Lufthansa1953$39.0B138,35315
Falcon Air Express-$3.9M50-
Ata Airlines--5,00017
Emirates1985$16.7B105,730-
Aeroflot1923$10.5B15-
Eastern Airlines, Inc1926$3.2M9657
Omni Air International1993$350.0M1,0838
China Airlines1959$4.8B15-
Pan American Airlines Inc1998$1.7M5-

Cathay Pacific history FAQs

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