Cathay Pacific Airways Limited

FOR IMMEDIATE RELEASE

23 May 2002

Cathay Pacific Airways today announced that it will in August restore more services to pre-11 September levels and bring all parked passenger aircraft back into operation. This additional capacity will help the airline meet increasing market demand and give greater choice to customers.

From 1 August, the airline will resume a double-daily service to Los Angeles. Manila will be back to five flights each day and Kuala Lumpur will return to its original three-times-daily schedule. All five temporarily parked passenger aircraft and one freighter will return to service in that month.

Cathay Pacific previously announced that from 1 July, it will increase the number of flights to Vancouver from 11 to 14 and that San Francisco will be served by a higher-capacity B747-400. Jakarta will get back two flights a week from 1 July, meaning the resumption of a daily non-stop service. Services will also be increased to Japan and the U.K. with the launch of a fifth daily service to Tokyo on 1 June and the addition of four new flights each week to London from 2 July.

Last month the airline ordered three new Boeing 777-300 and three Airbus A330-300 passenger aircraft to join its regional fleet in late 2003/early 2004, and this September it will take delivery of the first of three long-range Airbus A340-600 aircraft.

Cathay Pacific Director Corporate Planning Augustus Tang said: "Based on the strength of recovery so far in 2002, we expect demand for air travel to continue to increase. We are pleased to be able to restore these services as more flights means more choice and convenience to passengers."

Details of flight schedules are as follows (restored flights in bold and italic text): Flight Route Departure Arrival Frequency CX882 Hong Kong - Los Angeles 4:10pm 2:30pm Daily CX881 Los Angeles - Hong Kong 00:30am 6:30am + 1 Daily CX880 Hong Kong - Los Angeles 11:25pm 9:40pm Daily CX883 Los Angeles - Hong Kong 11:45pm 5:30am + 2 Daily Flight Route Departure Arrival Frequency CX907 Hong Kong - Manila 7:55am 9:55am Daily CX906 Manila - Hong Kong 11:05am 1:10pm Daily CX901 Hong Kong - Manila 9:00am 10:55am Daily CX919 Hong Kong - Manila 2:25pm 4:25pm Daily CX903 Hong Kong - Manila 4:30pm 6:30pm Daily CX905 Hong Kong - Manila 9:35pm 11:30pm Daily CX904 Manila - Hong Kong 7:00am 8:55am Daily CX900 Manila - Hong Kong 12:05pm 2:10pm Daily CX918 Manila - Hong Kong 5:35pm 7:35pm Daily CX902 Manila - Hong Kong 8:10pm 10:10pm Daily Flight Route Departure Arrival Frequency CX725 Hong Kong - Kuala Lumpur 12:25pm 4:05pm Daily CX722 Kuala Lumpur - Hong Kong 3:10pm 7:00pm Daily CX723 Hong Kong - Kuala Lumpur 10:40am 2:25pm Daily CX721 Hong Kong - Kuala Lumpur 2:55pm 6:45pm Daily CX720 Kuala Lumpur - Hong Kong 10:00am 2:00pm Daily CX724 Kuala Lumpur - Hong Kong 5:10pm 9:00pm Daily

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