Battered by coronavirus pandemic, Hong Kong’s Cathay Pacific plans to shrink order of Boeing’s latest 777X aircraft, sources say
- Two sources say the airline will ‘optimise’ its order, slashing it from 21 planes to between 10 and 15, shaving billions off the cost
- Aviation analyst Richard Aboulafia says ‘Cathay is not alone ... airlines will be cautious, and prioritise smaller long-haul jetliners like the 787 or A350’
Cathay Pacific Airways plans to shrink its order of Boeing’s newest marquee aircraft, the 777X, as the long-lasting effects of the Covid-19 pandemic trigger a rethink on the top-of-the-range commercial jets.
The airline would “optimise” its order, two sources briefed on the matter said, slashing it from 21 planes – worth some HK$58 billion (US$7.4 billion) – to between 10 and 15.
Since July last year, Cathay has said multiple times that it was in “advanced negotiations” with Boeing while already deferring aircraft deliveries from rival supplier Airbus.
The move to reduce the current order would shave billions off the cost, but one source added the airline was considering other aircraft for its future needs.
A Cathay spokeswoman said the Boeing order would be delayed, but declined to confirm the reduction in the number of planes.