Cathay puts in US$7.5b order for Boeing jets

Cathay Pacific Airways, Asia's biggest international carrier, will order 21 Boeing 777X-9X jets valued at US$7.5 billion, betting on the newest twin-aisle offering from the US plane maker to modernise its fleet.

Cathay said it expected to take delivery of the new aircraft from 2021 to 2024 and would use them to serve destinations in North America and Europe.

Chief executive John Slosar has been pushing to retire the airline's older 747-400 fleet and replace it with more fuel-efficient and modern aircraft as it competes with Emirates for the lucrative business traveller market.

Emirates, the largest international carrier, last month ordered 150 777X planes worth US$76 billion, with an option to buy 50 more.

"It's the right move because when you run an airline, you want to make sure that you always have the best aircraft," Patrick Xu, a Hong Kong-based analyst at Barclays, said. "It's good news for Boeing as well. Cathay's order is a vote of confidence on the model."

The 777X boasts new General Electric engines and Boeing's largest-ever wing that comes with a fold to conserve airport space. The plane was unveiled last month at the Dubai Air Show.