Cathay Pacific signs agreement with boeing to purchase 6 more 777-300er aircraft

Cathay Pacific signs agreement with boeing to purchase 6 more 777-300er aircraft

Cathay Pacific Airways today signed an agreement with the Boeing Company to exercise purchase rights for six more of the manufacturer’s 777-300ER (Extended Range) aircraft with an estimated value of HK$12.5 billion at list price.

The additional six aircraft will swell the airline’s total order for the aircraft type to 36. Eighteen are already in operation – primarily on long-haul and ultra-long-haul routes to Europe and North America – with another 12 scheduled for delivery from 2011 to early 2013. The additional six newly purchased 777-300ERs will be delivered in 2013 and 2014.

Cathay Pacific Chief Executive Tony Tyler said: “We are very pleased to confirm this purchase of six more Boeing 777-300ERs – a superb aircraft that has already significantly enhanced our operations on key long-haul routes. We have been very impressed by the operating economics of these aircraft, while their high efficiency has resulted in a reduced environmental impact. As we continue to enhance our fleet, the 777-300ER will play a crucial role in our operations in the years to come.”

Cathay Pacific currently operates a fleet of 128 wide-body aircraft which, in addition to 777-300ERs, includes 12 Boeing 777-300s, five Boeing 777-200s, 22 Boeing 747-400 passenger aircraft and 25 Boeing 747-400 freighters. In addition, the airline has 10 new-generation Boeing 747-8 freighters on firm order with deliveries due to commence in 2011.

The airline recently announced it will also purchase 30 new Airbus A350-900 aircraft to enhance its mid-sized long-haul wide-bodied fleet. Delivery of those aircraft – valued at almost HK$61 billion at list price, will commence in 2016.

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The aircraft purchases highlight Cathay Pacific’s continued commitment to developing Hong Kong’s role as one of the world’s leading international aviation hubs. Other significant investments include the building of a new HK$5.5 billion cargo terminal at Hong Kong International Airport, and enhanced products in the cabin and on the ground.