Cathay Pacific Airways opts to purchase six Airbus A350

Friday, December 8, 2023

Cathay Pacific Airways has opted to purchase six Airbus A350 freighters for a total cost of $2.71 billion, as announced on Friday. This decision comes as a potential replacement for the airline’s aging cargo fleet, which currently consists of Boeing 747 jets.

The deal also grants Cathay Pacific Airways the option to acquire an additional 20 Airbus A350 freighters as part of its fleet renewal strategy.

The delivery of the six A350 freighters is expected to be completed by the end of 2029. This move confirms earlier reports from late November, suggesting that Cathay Pacific was leaning towards Airbus for this significant deal, marking a departure from its historical reliance on Boeing.

Cathay Pacific’s decision to choose Airbus over Boeing represents a notable shift in its fleet composition, particularly in the cargo segment. The airline had been deliberating for several months before finalizing this decision to replace its aging Boeing 747 fleet with the more modern Airbus aircraft.

Boeing has yet to respond to the announcement, and the selection of Airbus is regarded as a significant development in the competitive landscape between the two aircraft manufacturers. Cathay Group CEO Ronald Lam emphasized the fuel efficiency and sustainability advantages of the Airbus A350 freighters, highlighting their contribution to the airline’s global network expansion and sustainability goals.

Cathay Pacific’s cargo development strategy is closely watched as it operates both Boeing 777 and Airbus A350 passenger models. The chosen Airbus freighters are expected to connect Hong Kong with mainland China and serve long-haul routes to North and South America, as well as Europe.

This deal underscores the broader dynamics in the aviation industry as carriers evaluate and renew their fleets, considering factors such as fuel efficiency, cargo capacity, and sustainability goals. The decision by Cathay Pacific could have implications for future procurement decisions by other airlines in a rapidly evolving aviation landscape.

Input: Reuters

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