Cathay Pacific Leaning Towards Airbus A350F for Freight Deal, Industry Sources Say
Cathay Pacific Airways is showing a preference for ordering approximately six Airbus A350 freighters as part of its fleet renewal efforts for its aging 747-400ERF and -8F cargo jets, according to industry insiders.
This decision marks a shift towards Airbus for freighters after Cathay initially seemed to favor the competing Boeing 777-8F earlier this year, only to delay the final choice for several months, sources with knowledge of the matter said, speaking on the condition of anonymity.
A Cathay Pacific spokesperson stated via email, “We will continue to assess the potential of new-generation freighters to provide enhanced capacity and value for our customers and shareholders. We remain open to all possibilities.”
Airbus and Boeing have refrained from immediate comments.
Cathay’s decision regarding its cargo development strategy is a crucial test for both aircraft manufacturers, as the airline operates both Boeing 777 and Airbus A350 passenger models.
Cathay Cargo fleet as of Nov. 30, 2023:
- Boeing 747-400ERF 6
- Boeing 747-8F 14
Airbus and Boeing have been fiercely competing for the business of one of the world’s top five freight airlines, which is comparing the all-freight version of Boeing’s 777-8F jet family with an upcoming cargo model of the existing Airbus A350.
Cathay Pacific ranks as the world’s fifth-largest air freight carrier, and among traditional freight airlines, it’s the third-largest, trailing behind Qatar Airways and Emirates when excluding specialist express parcel carriers FedEx and UPS, as per data from the International Air Transport Association.
Industry sources have hinted at an initial purchase of approximately six aircraft, valued at around $2 billion at list prices before standard airline discounts.
In August, Cathay Pacific informed analysts of its interest in freighters and its ongoing exploration of various opportunities.
Recently, the airline informed analysts that cargo demand had softened but still remained significantly higher than pre-pandemic levels.
Sources: AirGuide Business airguide.info, bing.com, reuters.com