update its current fleet and to expand its high-capacity regional service, according to a statement by the supplier.
At book value, the new jets have a value of $7.8 billion, though neither Airbus nor Cathay confirmed the acquisition cost. Neither party offered any detail on the delivery schedule for the new aircraft, though current order backlogs suggest the order will not be completed before the decade.
In addition to its Cathay Pacific airline the group includes budget carrier HK Express and cargo service Air Hong Kong. Almost a year ago Cathay Group ordered 32 A321neo and A320neo jets, a purchase estimated at about $3.8 billion.
“As Cathay completes the final stretch of its rebuilding journey, we are turning the page to modernization and growth, both in terms of scope and quality,” stated Ronald Lam, Cathay Group CEO. “This substantial investment reflects not only our immense confidence in Hong Kong’s leading international aviation hub status, but also represents our commitment to fostering our home city’s ongoing development.”
The A330neo has a range of 7,200 nautical miles / 13,330 km / 8,290 mi) and is outfitted to carry up to 287 passengers. The twin-engine aircraft will be powered by Rolls-Royce Trent 7000 engines.
Airbus noted the A330neo is able to operate with up to 50% Sustainable Aviation Fuel, and that it is working to increase that capability to 100% by 2030.
According to Lam, the new A330neo aircraft will principally serve regional destinations in Asia, but will offer flexibility to serve longer-haul destinations as required.
