There’s a buzz in the aviation industry, and it’s all about Cathay Pacific Airways. The Hong Kong carrier is reportedly on the brink of a plane order. Cathay Pacific is anticipated to place an order worth around $2 billion for Boeing 777-8F freighters, signifying a partial renewal of its dedicated 747 cargo jets fleet. This significant move is part of Cathay Pacific’s strategic aim to elevate their service, streamline their operations, and maximize efficiency in the growing global cargo sector.
The Competition Behind the Scenes
In what has been a highly competitive situation, Cathay Pacific Airways has been evaluating the Boeing 777X jet family’s all-freight version against an upcoming cargo model of the existing Airbus A350. This stiff competition is rumoured to involve an initial acquisition of about six aircraft, estimated to be worth $2 billion before traditional airline discounts. This ongoing duel between Boeing and Airbus underscores the high stakes and intense rivalry in the commercial aviation industry.
Interestingly, Boeing introduced the 777-8F freighter with an order from Qatar Airways in January 2022, six months following Airbus’s development launch of the A350 Freighter. The latter was a strategic move by Airbus to challenge Boeing’s conventional stronghold in the freighters’ market.
A Major Player in the Freight Industry
Ranked as the world’s fifth-largest air freight carrier and the third-largest traditional freight airline (behind Qatar Airways and Emirates, but not including specialist express parcel carriers FedEx and UPS), Cathay Pacific’s decision holds weight. The airline’s choice, situated at the pre-pandemic trade lanes’ core, could indicate future trends in cargo development.
Moreover, Cathay Pacific announced in November of last year that it was actively exploring more freighter capacity and liaising with aircraft manufacturers to acquire new freighters post-2025. This statement gives more credibility to the rumours of the impending deal with Boeing.
In this context, Cathay Pacific’s decision signifies more than just a fleet upgrade—it showcases the airline’s commitment to investing in state-of-the-art, fuel-efficient aircraft for the benefit of its customers. While Cathay Pacific hasn’t confirmed the 777-8F deal yet, the speculated investment could mark a turning point in the company’s growth trajectory and set a benchmark in the global air freight industry.
Source: Reuters
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