Cathay bursts out of the blocks
Cathay Pacific has left little doubt that it is in for the long haul by ordering 30 Airbus A350-900s for delivery between 2016-2019.
It will also take up existing options for six Boeing 777-300ER aircraft.
The A350-900 variant is capable of flying over 8,000 nautical miles non-stop, which will enable Cathay to operate the aircraft across its route network, including on non-stop flights to Europe and North America.
Ben Sandilands, writing in his Plane Talking blog, said, “The loser is….the Boeing Dreamliner 787-9, even though the two jets aren’t exactly the same size physically or in specifications.
“As expected, Cathay Pacific wasn’t interested at this stage in either the initial version of the Airbus A380 nor the Boeing 747-8.â€
Cathay Pacific chief Tony Tyler said the A350-900 was a perfect fit for the development of Cathay’s fleet – “a mid-size long-haul aircraft that is fuel efficient, environmentally friendly, and provides the kind of capacity, range and operating economics that we need to complement and enhance our existing fleetâ€.
The new aircraft orders came as Cathay posted a first half profit of $HK 6,84 billion, or $A 970 million,
This compares to a profit of HK$812 million in the first half of 2009.
Apart from shareholders, Cathay’s staff will be pleased with the result.
The airline will pay an advance profit share in the form of an ex-gratia payment of 14 days salary to all eligible members of the Cathay Pacific team.
Ian Jarrett
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