Hong Kong’s Cathay Pacific Airways has signed a $1.6bn order with Airbus for six A350-900 wide-body long-haul aircraft intended to serve European destinations.
The order also includes the airframe price, price of specification change notices, and engine price, plus Airbus has granted price concessions while the actual consideration is lower than the basic price.
A Cathay Pacific spokesperson said the Airbus aircraft will replenish and expand the company’s fleet capacity: "The company expects the Airbus aircraft will deliver improved payload range capability at competitive operating costs while providing high standards of passenger comfort and safety."
Cathay Pacific is planning to fund the transaction with commercial bank loans, other debt instruments and internal cash resources.
The delivery of the aircraft is expected during 2016 to 2017.
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By GlobalDataThe airline has been investing heavily to enhance both its capacity – it recorded a 3% rise in passenger numbers to 27.6 million in 2011 – and services to compete with other carriers in the region.
In 2011, the airliner unveiled plans to buy 14 Boeing 777-300 extended-range passenger aircraft, eight Boeing 777-200 freighters and also 15 Airbus A330s and two Airbus A350-900s.
Prior to the current order, Cathay Pacific has ordered more than 90 aircraft scheduled for delivery till 2019 worth HK$180bn ($23.2bn), which include 36 Airbus A350-900s to be delivered from 2016 to 2019.
Image: The A350-900 wide-body long-haul aircraft are expected to join Cathay Pacific between 2016-2017. Photo: Airbus
