Hong Kong’s Cathay airlines order 11 Airbus planes for $5.1 bn

Cathay Pacific has ordered an additional 11 Airbus airplane jets in a deal with an estimated cost of $5.1 billion, the Hong Kong airline said .

Cathay Pacific said those 11 A330-900 jets “will support the growth of Cathay Pacific’s regional network and provide it with more passenger and cargo capacity”, in a press release.

The $5.1 billion figure was attained after the company filed the deal to the Hong Kong stock exchange, Cathay said that Airbus had given it “significant price concessions”.

In addition to the 11 Airbuses, Cathay also stated that it’s ordering three more Airbus A321neo narrowbody aircraft for its HK Express budget subsidiary;

The company stated the sale would help build on its “growth potential with its focus on destinations in the Chinese mainland and other short-haul routes”.

Cathay CEO Ronald Lam described the total 14 airplanes to be purchased as “state-of-the-art, fuel-efficient”, adding that they would upgrade Cathay’s total fleet and “enhance connectivity at our home hub Hong Kong”.

Cathay said it aims to add 150 aircraft in the next ten years if market conditions are favorable, replacing its current jets and bringing its fleet total to around 300 aircraft.

The 11 A330-900 aircraft are expected to be delivered to Hong Kong somewhere between 2031 and 2035.