Cathay Pacific Airways will buy eight 777-200 freighters to be delivered between 2013 and 2016 as the Hong Kong-based carrier expands its fleet and phases out older aircraft.
As well as the eight new freighter orders, Cathay has also purchased four new 777-300ER passenger aircraft. The total list price for the 12 Boeing aircraft is about $3.3 billion, but Cathay said it negotiated a “considerable discount.”
“For a typical 3,000 nautical mile trip, the 777-200F will burn 15 percent and 24 percent less fuel per payload tonne than the 747-400F and 747-400BCF, respectively,” said Cathay, the world third’s largest cargo airline in 2010, following FedEx and UPS.
Two B747-400BCFs have already been sold to Air China Cargo, Cathay's joint venture with Air China launched in May, and two more will be sold to ACC in early 2012.
Air Hong Kong has also dry-leased three Cathay B747-400BCFs. Two are already flying for AHK and the third will join the fleet in September. Cathay will share some of the capacity, which has mainly been deployed by AHK on intra-Asia routes.
The delivery of Cathay’s new Boeing 747-8 freighters has been further delayed, however. The first two were due this month but are now schedule to arrive in September, with three more due before the end of the year.
“The delivery schedule is still subject to final confirmation,” Cathay said.