Cathay Pacific

Hong Kong’s flag carrier Cathay Pacific Airways has placed an order with Boeing for three 747-8 Freighters aircraft, with an option to purchase five additional 777s, in a deal valued at $1bn.

The firm order will increase Cathay Pacific Airways’ 747-8 Freighter fleet to 13.

Cathay Pacific Airways chief executive officer John Slosar said the 747-8 Freighter has provided the airline’s revamped cargo fleet with efficient fuel savings, as well as added environmental benefits.

"We are pleased with the in-service performance of this new airplane and we look forward to maintaining Cathay Pacific’s market leadership," Slosar added.

The flag carrier is in the process of replacing its ageing freighter fleet with newer, more efficient airliners, while also strengthening its position in the air cargo business.

The new 747-8 Freighter jets are expected to replace Cathay Pacific’s 747-400 Boeing Converted Freighter (BCF) fleet.

"We are pleased with the in-service performance of this new airplane and we look forward to maintaining Cathay Pacific’s market leadership."

Currently, the carrier operates six 747-400s, eight 747-8s, six 747-400ERs and one 747-400 BCF.

The 747-8 Freighter offers the lowest operating costs to cargo operators and best economics compared with other large freighter jets, while providing improved environmental performance.

It also allows operators to achieve 16% more revenue cargo volume compared with its predecessor with nearly equivalent trip costs and lower tonnes-mile costs, according to Boeing.

To date, Boeing has received 70 firm orders for 747-8 Freighters from more than nine customers worldwide, with 28 aeroplanes having been delivered to six airlines.

Image: The new 747-8 Freighters are expected to progressively replace Cathay Pacific’s 747-400 Boeing Converted Freighter (BCF) fleet. Photo: courtesy of Boeing.

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