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Airbus secures USD 4.2 bn plane orders from Cathay Pacific
Posted On: Jul 11, 2012
Airbus A350 Aircraft
European planemaker Airbus has announced deals to deliver long-haul A350 planes to Hong Kong airline Cathay Pacific in deals worth USD 4.2 billion.
Cathay has agreed to buy 10 of the future Airbus A350-1000 planes worth a combined USD 3.2 billion, it was announced at the Farnborough airshow near London.
The airline will also convert 16 of its existing orders for the A350-900 to the larger A350-1000, earning Airbus an additional USD 1.0 billion at list prices.
"This is an important and strategic development for Cathay Pacific. The A350-1000 aircraft will bring us world-beating fuel efficiency and environmental friendliness" the airline's chief executive John Slosar said.
The announcement came on the second day of the Farnborough airshow taking place near London.
"This announcement from one of the world's most highly respected airlines is a clear endorsement of the unbeatable operating economics offered by the A350-1000," said Airbus chief executive Fabrice Bregier.
"The A350-1000 will be a game changer in the 350-seat category, offering outstanding payload-range capability and a 25 percent reduction in fuel burn."
The A350 is a response to Boeing's 787 Dreamliner, which is now flying after long technical delays.
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