Cathay Pacific Bold Move: Hong Kong-based Cathay Pacific Airways has unveiled a strategic move to modernize its cargo fleet by placing a firm order for six Airbus A350 freighters, valued at $2.71 billion. The decision signals a significant shift as the airline moves to replace its aging Boeing 747 cargo jets, comprising six older model 747-400ERFs and 14 newer 747-8Fs. The newly ordered A350s are anticipated to be delivered between 2027 and the end of 2029, according to a statement from Cathay.
The A350 freighters are lauded for their highly fuel-efficient and next-generation features, aligning with Cathay’s commitment to sustainability and providing essential additional cargo capacity. Ronald Lam, CEO of Cathay Pacific, expressed confidence in the decision, emphasizing the A350 freighters’ role in expanding the global network and contributing to the airline’s environmental goals.
Cathay Pacific also disclosed that it has secured the right to acquire an additional 20 A350 freighters, showcasing its long-term commitment to enhancing its cargo operations. Notably, the airline negotiated favorable pricing concessions with Airbus, securing a deal below the list pricea common practice for major airlines that typically benefit from substantial discounts from aircraft manufacturers.
Also Read: Cathay Pacific Eyes Airbus A350 Freighters in Fleet Renewal Move
This development follows recent reports indicating Cathay’s inclination towards Airbus for this crucial deal. The decision to replace its Boeing 747 fleet with Airbus aircraft has been anticipated for several months, and the order solidifies Cathay’s strategic vision for its cargo operations.
The Airbus A350 freighters are expected to connect Hong Kong and the Chinese mainland with long-haul destinations across North and South America, as well as Europe, according to Cathay Pacific. The move positions the airline to enhance its global cargo capabilities, tapping into the superior efficiency and capabilities of the A350 freighter.
Cathay Pacific holds a prominent position in the air freight industry, ranking as the world’s fifth-largest air freight carrier and the third-largest traditional freight airline (excluding express parcel carriers FedEx and UPS), based on data from the International Air Transport Association (IATA). The airline’s diversified aircraft order book includes not only the newly ordered A350 freighters but also 21 Boeing 777-9 passenger planes slated for delivery from 2025 and 49 Airbus A320neo and A321neo aircraft anticipated by 2029.
This strategic move underscores Cathay Pacific’s commitment to staying at the forefront of the evolving air cargo landscape, showcasing a balance between sustainability goals, network expansion, and operational efficiency.
Our Reader’s Queries
What is the slogan of Cathay Pacific?
Cathay Pacific has recently introduced a new tag-line, Move Beyond, to replace its previous brand promise, Life Well Travelled. This fresh approach aims to encourage travelers to explore beyond their comfort zones and embrace new experiences. With this new tag-line, Cathay Pacific hopes to inspire its customers to broaden their horizons and discover the world in a whole new way.
Is Cathay Pacific owned by China?
In 1946, Cathay Pacific took flight thanks to the vision of Australian Sydney H. de Kantzow and American Roy C. Farrell. Fast forward to 2016, and the airline proudly celebrated its 70th anniversary. Today, Swire Pacific holds the majority stake at 42.3%, followed by Air China at 28.2%, and Qatar Airways at 9.4%.
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