The planes will be delivered in 2013 and 2014, when there will be 36 Cathay 777-300ER aircraft.
"We have been impressed by the operating economics of these aircraft, while their high efficiency has resulted in a reduced environmental impact," said chief executive Tony Tyler. They will play a crucial role in the airline's future operations, he added.
Cathay currently has 18 such aircraft flying mainly to Europe and North America.
Twelve more, purchased earlier, are expected to start arriving next year.
Last week, Cathay Pacific said it will purchase 30 aircraft from Airbus for HK$61 billion.
The expansion comes as the International Air Travel Association expects airlines to post higher profits this year than previously forecast.
The industry will record a total net profit of US$8.9 billion, more than three times the US$2.5 billion forecast in June, IATA predicted yesterday. The sector lost almost US$10 billion last year.
But IATA warned new aircraft to be delivered next year will boost capacity and slow growth, affecting profitability.
Cathay Pacific closed 1.18 percent lower yesterday at HK$20.95. TONY LIAW
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