Cathay Pacific Signs Agreement with Boeing to Purchase Six More 777-300ER Aircraft

Cathay Pacific Airways today signed an agreement with the Boeing Company to exercise purchase rights for six more of the manufacturer's 777-300ER (Extended Range) aircraft with an estimated value of HK$12.5 billion at list price.

The additional six aircraft will swell the airline's total order for the aircraft type to 36. Eighteen are already in operation - primarily on long-haul and ultra-long-haul routes to Europe and North America - with another 12 scheduled for delivery from 2011 to early 2013. The additional six newly purchased 777-300ERs will be delivered in 2013 and 2014.

Cathay Pacific Chief Executive Tony Tyler said: "We are very pleased to confirm this purchase of six more Boeing 777-300ERs - a superb aircraft that has already significantly enhanced our operations on key long-haul routes. We have been very impressed by the operating economics of these aircraft, while their high efficiency has resulted in a reduced environmental impact. As we continue to enhance our fleet, the 777-300ER will play a crucial role in our operations in the years to come."

Cathay Pacific currently operates a fleet of 128 wide-body aircraft which, in addition to 777-300ERs, includes 12 Boeing 777-300s, five Boeing 777-200s, 22 Boeing 747-400 passenger aircraft and 25 Boeing 747-400 freighters. In addition, the airline has 10 new-generation Boeing 747-8 freighters on firm order with deliveries due to commence in 2011.

The airline recently announced it will also purchase 30 new Airbus A350-900 aircraft to enhance its mid-sized long-haul wide-bodied fleet. Delivery of those aircraft - valued at almost HK$61 billion at list price, will commence in 2016.

The aircraft purchases highlight Cathay Pacific's continued commitment to developing Hong Kong's role as one of the world's leading international aviation hubs. Other significant investments include the building of a new HK$5.5 billion cargo terminal at Hong Kong International Airport, and enhanced products in the cabin and on the ground.