Cathay Pacific and Boeing entered (09-Mar-2011) into an agreement covering the purchase of 10 B777-300ER aircraft. The aircraft are valued at USD2.7 billion at list price although the carrier received "significant price concessions" for the purchase. The consideration for the purchase of each aircraft is payable in cash in six instalments, with the first five instalments to be paid prior to delivery of each aircraft and the balance, being a substantial portion of the consideration, to be paid upon delivery of the aircraft. The transaction will be funded through commercial bank loans, other debt instruments of Cathay Pacific and/or cash generated from the company’s business operations. The company is expecting to take delivery of the aircraft from 2014 to 2015. The aircraft will principally serve long-haul destinations in North America and Europe. Cathay Pacific first announced its selection of the 777-300ER for its fleet requirements in 2005. With this order, Cathay Pacific will increase its B777-300ER planned fleet from 36 to 46 (including four leased). It is the fifth increase in its acquisition plans for the aircraft. In additions to B777-300ER, Cathay Pacific operates 12 B777-300s, five B777-200s, 45 B747-400s in both passenger and cargo versions. The airline also has ordered 10 B747-8 Fs. Swire and Air China, which together own approximately 72.96% of the issued share capital of the company, have approved the purchase. [more - Cathay] [more - Boeing]
Cathay Pacific orders 10 B777-300ERs for North America and Europe network
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The CAPA airline fleet quiz: 15 challenging questions. CAPA Summit Singapore 2/3 March
Test your knowledge of the global aircraft fleet with this CAPA Quiz. If you have access to the comprehensive CAPA Fleet Database, it should be a breeeeze.
Rank your result:
15/15 = Outstanding! – you should set up your very own aircraft leasing company.
13-14/15 = Excellent – your colleagues should say the word ‘wiki…’ in front of your first name around the office.
10-12/15 = Very good – someone should shout you several drinks at the next air finance gathering.
9 or below/15 = Time to brush up – you need to sign up for CAPA's Fleet Database immediately.
Visit http://capaevents.com/AFFS17 for the answers
Global commercial aircraft deliveries fell in 2016 as Boeing again outsold Airbus; 2017 to be a peak
The global commercial aircraft fleet grew by 4% in 2016 and the year ended with an order backlog of more than nine years of production. Among the regions, North America still has the biggest and oldest fleet, but the lowest ratio of orders to aircraft in service. By contrast, Middle East has the fewest in service, but the highest ratio of orders to current fleet numbers.
This report gives an overview of the number of commercial aircraft deliveries in 2016 and the outlook into 2017 and beyond. It also looks at numbers in service and on order by region. It is based on preliminary numbers from the CAPA Fleet Database and guidance on 2016 deliveries from Airbus and Boeing, who have yet to announce final numbers.
The data indicate that total worldwide deliveries fell in 2016, the first such decline for six years, as a result of delays to new aircraft programmes. Boeing delivered more aircraft than Airbus for the fifth straight year, but its deliveries fell short of its 2015 level, while Airbus increased its numbers year-on-year. Total deliveries will likely rise again in 2017, but this may prove to be a peak year.