Cathay Pacific recently confirmed a significant purchase of 32 Airbus A321neo and A320neo aircraft. This move is part of a broader strategy that began in September 2017 when the airline first showed interest in these specific models.
The deal is valued at approximately $4.66 billion based on list prices. However, Cathay Pacific revealed that they negotiated substantial concessions, although the exact figures remain confidential. The airline plans to complete the delivery of these new aircraft by the end of 2029.
Purpose and Engine Options
The new aircraft will serve both Cathay Pacific’s mainline and its HK Express operations. While the airline has not yet announced the type of engines for these new planes, it’s worth noting that their current A320neo-family aircraft use both CFM International Leap-1A and Pratt & Whitney PW1100G engines.
The deal received the green light from major shareholders Swire Pacific and Air China, who hold more than half of the voting rights in the company. This approval is a crucial step in finalizing the purchase agreement.
Previous Orders and Deliveries
Airbus confirmed that 13 of the 32 aircraft from the original 2017 order have already been delivered to Cathay Pacific. This new deal serves as an extension and reaffirms the airline’s commitment to modernizing its fleet.
Cathay Pacific is taking significant steps to expand and modernize its fleet through this new order of A321neo and A320neo narrowbody jets. With shareholder approval and a strategic plan in place, the airline is well-positioned for the future.
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