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Cathay Pacific place big order

Cathay Pacific Airways has placed its biggest ever order for new aircraft to grow the airline, modernise
and expand its fleet and continue to strengthen Hong Kong as a global aviation
hub.The airline has made commitments for 16 advanced wide-body Boeing 777-
300ER aircraft with purchase rights for 20 more. It also made commitments to
acquire three Airbus A330-300s to operate regional routes.
  The 777-300ER’s will be acquired through a combination of 12 direct
purchases from The Boeing Company and four operating leases from International
Lease Finance Corporation. The three new A330-300s will also be
acquired via operating leases from ILFC.
  The 777-300ER will be powered by General Electric GE90-115B engines and
the Airbus A330-300 by the Rolls-Royce Trent 700. The 16 777-300ERs will be
delivered between September 2007 and July 2010. All three Airbus A330-300s
will be delivered in 2008.
  Cathay Pacific Chief Executive Philip Chen said:  “These aircraft orders
mark an exciting and significant milestone in the development of our airline
—demonstrating our Board’s confidence in the long-term future of the airline
and Hong Kong. The addition of these new aircraft to the 100 we will have by
next year will make us a carrier of significant size.”
  Mr. Chen added:  “More aircraft will allow us to have more flights, new
destinations and greater hub connections. This rapid fleet increase will
enhance our strength as a carrier and Hong Kong’s position as a global hub and
gateway to the Chinese Mainland. This is a long-term commitment to the
continued profitable growth of the airline. It puts us firmly on a footing for
future success.”