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Cathay Pacific pursues cargo market with freighter order

By Staff Reports on December 30, 2013

Cathay Pacific Airways ordered an additional 747-8 freighter as it continues to renew its freighter fleet with newer, more efficient planes in an effort to strengthen its position in the air cargo business.

Cathay Pacific also ordered three 777-300ER airplanes. The order, valued at about US$1 billion (726.4 million euros), will bolster Cathay Pacific’s 747-8 freighter fleet and 777-300ER fleet to 14 and 53, respectively.

“We are very pleased to confirm this latest aircraft purchase from the Boeing Company,” John Slosar, chief executive of Cathay Pacific, said. “Both the 777-300ER and the 747-8 freighter offer a highly-efficient solution on Cathay Pacific’s ultra-long-haul routes, combining superb operating economics with a significant reduction in emissions. These two aircraft types will form the backbone of our long-haul passenger and freighter fleets through to the end of the decade.”

The 747-8 freighter has 16 percent more revenue cargo volume compared to its predecessor.

“Cathay Pacific is a longstanding customer and operator of Boeing’s products and services,” said Ray Conner, Boeing Commercial Airplanes president and CEO. “We value our partnership with Cathay Pacific and are grateful for their enduring confidence in Boeing and our wide-body airplanes.”

Hong Kong’s flag carrier operates an all-Boeing freighter fleet that includes 13 747-8 freighters.