Cathay Pacific Orders Airbus Freighters, Dealing a Blow to Boeing

Cathay Pacific, Hong Kong’s prominent airline, has recently made a decisive move by ordering six freighter aircraft from Airbus. This development comes as a significant blow to rival company Boeing, as Cathay Pacific had been contemplating the replacement of its aging Boeing 747 fleet for quite some time now. The decision to opt for Airbus A350F jets, which comes at a price tag of approximately $2.7 billion, was confirmed in a filing with the Hong Kong Stock Exchange.

In addition to these six aircraft, Cathay Pacific has also secured the purchasing rights for an additional 20 Airbus freighters. This move further solidifies the airline’s strategy to phase out its Boeing 747 fleet and transition towards newer, more technologically advanced options.

The airline industry has been closely observing this intense rivalry between the two biggest aircraft manufacturers in the world. Given that Cathay Pacific operates both Airbus and Boeing passenger jets, their choice between the A350F and Boeing’s 777 freighter was closely monitored.

Following the announcement, Airbus stocks experienced a 1.5% rise in early European trading. On the other hand, Boeing shares witnessed a slight dip of 0.5% in premarket trading.

This decision marks a significant shift in Cathay Pacific’s fleet planning strategy and echoes the ever-evolving landscape of the aviation industry as a whole.