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Cathay Pacific to add 27 more aircraft to modernise fleet; in discussions for further 14

9-Mar-2011 4:10 PM

Cathay Pacific stated (09-Mar-2011) it took delivery of seven new aircraft in 2010. In Aug-2010, the carrier announced it biggest-ever aircraft order: 30 A350-900s (to be delivered between 2016 and 2019) and six more B777-300ERs. In Dec-2010, a further two Airbus A350-900s were ordered. In Mar-2011, the carrier stated it would further boost its investment in fleet modernisation and growth by adding a further 27 aircraft - 15 A330-300s, 10 B777-300ERs and two A350-900s. All of these new aircraft will be delivered before the end of 2015. The 27 new aircraft have a list price of about HKD51 billion (USD6.5 billion), although the aircraft "will be acquired at a considerable discount". Cathay Pacific is also in discussions which could result in the acquisition of 14 further aircraft. The carrier also noted the delay in the delivery of its B747-8Fs, with the first now scheduled to arrive in Aug-2011. Cathay Pacific now has a total of 91 new aircraft on order for delivery between now and 2019. Their value at list prices is about HKD185 billion (USD24 billion). The carrier plans to retire its 21 B747-400s and 11 A340-300 aircraft before the end of the decade as the carrier takes delivery progressively of new aircraft. The average age of aircraft within Cathay's fleet stands at around 20 years. [more]