Cathay Pacific places major order for freighters

Cathay Pacific places major order for freighters Cathay Pacific announced its biggest ever direct purchase commitment for new aircraft, placing firm orders for 10 Boeing 747-8 freighters and seven Boeing 777-300ER passenger planes, with options for another 14 of the new freighter model.
   The new order is valued at $5.2 billion at list prices. The planes are scheduled for delivery from 2009 to 2012.
   The Hong Kong-based airline currently operates 19 freighters and had already committed to buy eight more freighters — six Boeing 747-400 Extended Range and two 747-400 converted freighters — for delivery by 2009. The next generation 747-8s will increase the airline’s cargo capacity and allow it to begin a phased withdrawal of its fleet of seven older, less fuel-efficient 747-200 freighters by 2012, Cathay Pacific said.
   The 747-8 provides 16 percent more cargo volume — 140 tons — than the 747-400 and is 12 percent more fuel efficient than its predecessor. Cathay Pacific said it would be primarily deployed on trunk routes to North America. The airline offers all-cargo service to 34 destinations worldwide.
   Sister airline Dragonair operates seven freighters, and its all-cargo subsidiary Air Hong Kong another eight, giving Cathay Pacific one of the largest freighter fleets in the world.
   “These orders highlight our long-term confidence in the future of both the cargo and passenger markets in Hong Kong and confirm our commitment to developing our home city as one of the world's premier aviation hubs,' said Tony Tyler, Cathay’s chief executive.