Business

Cathay Pacific Orders 747-8Fs, More 777-300ERs

posted: 08 November 2007 11:51 am ET

: Cathay Pacific Airways has ordered 10 Boeing 747-8Fs and acquired purchase rights on another 14 in a move clearly aimed at making the 747-8F the backbone of its freighter fleet in the medium-term future. The airline will use its first 10 747-8Fs to rpelace seven aging 747-200Fs and to expand its all-cargo services on trunk routes form Asia to North America. The airline's decision to acquire purchase rights on 14 more may well mean Cathay Pacific intends eventually to use 747-8Fs to replace 747-400F freighters now in its fleet. Credit: Cathay Pacific Airways
: Cathay Pacific Airways' latest order for seven Boeing 777-300ERs increases its total firm commitment for the type to 30 aircraft. The airline still has options on six additional 777-300ERs and looks set to place further orders for the big Boeing jet -- the largest twin-engined widebody airliner in the world -- in the future, as its long-haul network continues to grow. Credit: Cathay Pacific Airways

Cathay Pacific Airways has placed a firm order for 10 Boeing 747-8 Freighters and a follow-on order for seven Boeing 777-300ER passenger aircraft, in what the Hong Kong airline said was its biggest-ever direct purchase of new aircraft.

The airline also took up purchase rights for another 14 of Boeing's new 747-8F freighter. Although Boeing didn't immediately confirm that Cathay Pacific had placed the order, the airline said the list-price value of the deal was approximately US$5.2 billion.

Cathay Pacific operates 19 freighters and before today’s announcement already had secured commitments for eight more -- six Boeing 747-400ERF Extended Range Freighters and two 747-400BCF Boeing Converted Freighters -- for delivery by 2009.

It said the 10 Boeing 747-8F new-generation freighters would enhance its cargo capacity and at the same time allow Cathay Pacific to begin a phased withdrawal of its fleet of seven older, less fuel-efficient Boeing 747-200F “Classic” freighters by 2012.

The airline's latest order for additional Boeing 777-300ERs means Cathay Pacific now has firmly committed to take 30 of the type by 2012, which it said was the largest 777-300ER commitment by any airline in Asia.

It has already received three 777-300ERs and will use them primarily to operate long-haul services to North America, starting with the airline's third daily flight to New York. Cathay Pacific is starting this flight on Nov. 15.

The passenger and freighter aircraft ordered today are scheduled for delivery from 2009 to 2012.

“We are very excited about the 747-8 Freighter, which provides the highest payload of any commercial freighter," said Tony Tyler, Cathay Pacific's chief executive. "More importantly, this is a highly fuel-efficient aircraft which consumes 22 percent less fuel per revenue payload tonne than a 747-200F and 12 percent less than a 747-400F."

Added Tyler: "Similarly, the 777-300ER is 22 percent more fuel-efficient than a 747-400 per payload tonne. The greater efficiency of both aircraft types is very important in these environmentally sensitive times and when fuel prices are at record highs.”

The 747-8F provides 16 percent more revenue cargo volume than the Boeing 747-400F, a greater range of 5,140 miles (8,275 kilometers) with full payload, and a maximum structural payload capacity of 140 tonnes, the airline said.

Cathay Pacific primarily will operate its 747-8Fs, powered by General Electric GEnx-2B67 engines, on its cargo trunk routes to North America. At present, the airline operates all-cargo services to 34 destinations worldwide.

The Hong Kong-based airline now operates a fleet of 110 aircraft and has 48 aircraft on order, among them 30 passenger aircraft and 18 freighters. Including the 39 aircraft -- which include seven freighters -- operated by its sister airline Dragonair and the eight freighters operated by its express cargo subsidiary airline Air Hong Kong (which is operated in partnership with DHL), the Cathay Pacific Group’s combined fleet now totals 157 aircraft.

By 2012, taking into account retired aircraft and the return of leased aircraft, Cathay Pacific will operate a total of 147 aircraft, while the Group’s fleet will number 196 aircraft.