Cathay Pacific Orders 4 More Aircraft From Boeing (BA) As It Looks To Capitalize On The Growing Asian Long-Haul Market

Cathay Pacific Airways Ltd. (HK:0293) has ordered four more wide-body aircraft from The Boeing Company (NYSE:BA), bringing its total orders to 24 since ordering 20 777X aircraft for $7.5 billion on Dec. 20.

The Hong Kong-based airline has ordered three more of the 777-300 extended-range jets, adding to the 38 it currently operates. All three are due to be delivered in 2015, and a 747-8 freighter that will be ready in 2016 will be delivered then.

While the combined list price of the four aircraft is approximately $950 million, Cathay Pacific said it is getting a substantial discount from Boeing as the plane manufacturer looks to capitalize on growth in the Asian long-haul travel market.

In addition to the three new 777-300 extended-range jets, Cathay Pacific will receive 15 more of them in 2014 and 2015, with five pre-ordered freighters due to be delivered in 2016.

The $7.5 billion order for the 777X was Asia’s first for the new aircraft, which is expected for delivery between 2021 and 2024.