HONG KONG: Cathay looking at B787, A350 order
Cathay Pacific is in talks with Boeing and Airbus for B787 and A350 aircraft to replace ageing planes. The airline is favoring smaller long-range jets more suited for carrying cargo than Airbus A380 superjumbo and BoeingÃ¢â‚¬™s 747-8, the biggest airliner the Chicago-based company has ever built, CEO Tony Tyler said recently. Ã¢â‚¬Å“We have no plans […]
July 1, 2010
Cathay also agreed recently to sell a HK$2.62 billion (US$336 million) stake in Hong Kong Aircraft Engineering Co. partly to help pay for new planes, including 33 due for delivery within four years. The airline is also building a cargo terminal in Hong Kong and buying a stake in affiliate Air China Ltd.Ã¢â‚¬™s freight unit to bolster its cargo operations.
Ã¢â‚¬Å“Cargo demand collapsed but it bounced back very well, very healthily and we fully believe in the long-term future as a business stream,Ã¢â‚¬Â Tyler said according to Bloomberg. Ã¢â‚¬Å“We sit in a very lively aircargo market.Ã¢â‚¬Â
CathayÃ¢â‚¬™s outstanding orders include ten B747-8 freighters, eight Airbus A330s and two A320s for its Hong Kong Dragon Airlines Ltd. unit. The carrier also has 13 B777s on order. Ã¢â‚¬Å“ItÃ¢â‚¬™s a great cargo carrier and has a huge belly and doesnÃ¢â‚¬™t have that many passengers,Ã¢â‚¬Â Tyler said of the B777. Ã¢â‚¬Å“The A380 doesnÃ¢â‚¬™t have such a huge belly, and youÃ¢â‚¬™ve got 500- plus passenger bags to accommodate.Ã¢â‚¬Â