Cathay Pacific places order for 21 777-9X aircraft, deliveries to commence in 2021
Cathay Pacific Airways announced (20-Dec-2013) its latest investment as part of the airline's fleet modernisation programme - the purchase of 21 GE9X-powered Boeing 777-9X. With the order, Cathay Pacific becomes Asia's first 777X customer. The order is valued at more than USD7 billion at current list prices with deliveries scheduled between 2021 and 2024. The 777X is Boeing's newest family of widebody airplanes that builds on the 777-300ER that is already deployed extensively around the Cathay Pacific network. Cathay Pacific also signed a 15-year OnPointSM solution agreement to cover the maintenance, repair and overhaul of the GE9X engines. Cathay Pacific CEO John Slosar said: "Cathay Pacific is committed to modernising its fleet to provide a superior experience to passengers while at the same time as delivering cost benefits to the airline and reducing our impact on the environment. The 777-300ER has done a superb job for us - indeed, Cathay Pacific is now the second largest operator of this type - and we are delighted to be an early customer for this next generation of the aircraft. The 777-9X promises us improved payload range capability and reduced operating costs, in addition to a significant reduction in environmental emissions. We think it will be an ideal fit for long-haul destinations in North America and Europe, in particular those routes where we carry high volumes of passengers and cargo each day." The addition of this latest order of 21 777-9X aircraft increases Cathay Pacific's order book to 89 aircraft from 2014 to 2024, at an aggregate current list price of approximately HKD215 billion. As at the end of Dec-2013, there will be 140 aircraft in the Cathay Pacific fleet. From 2014, the airline is set to take delivery of another 12 777-300ERs, meaning it will have a total of 50 of this aircraft type in its fleet by 2020. Other aircraft on order include eight A330-300s, 22 A350-900s and 26 A350-1000s. [more - original PR - Cathay Pacific] [more - original PR - Boeing] [more - original PR - GE] [more - original PR - Cathay Pacific Stock Statement]