Cathay Pacific Orders 4 New Boeing Aircraft

Cathay Pacific has ordered an additional Boeing 747-8 Freighter and three 777-300ER (Extended Range) airplanes.

The order, valued at about $1 billion at current list prices, 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," said John Slosar, Chief Executive of Cathay Pacific. "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."

Hong Kong's flag carrier is in the midst of renewing its freighter fleet with newer, more efficient airplanes, while also looking to strengthen its position as a market leader in the air cargo business.

At 250 feet, 2 inches (76.3 m) long -- 18 feet, 4 inches (5.6 m) longer than the 747-400 Freighter -- the 747-8 Freighter gives customers 16% more revenue cargo volume compared to its predecessor with nearly equivalent trip costs and lower ton-mile costs.

The 777-300ER is equipped with the GE90-115B commercial jet engine, and can seat up to 386 passengers in a three-class configuration with a maximum range of 7,930 nautical miles (14,685 km).

With this order, Cathay Pacific will have 21 777-9X airplanes, 15 777-300ERs and one 747-8 Freighter on order with Boeing.