Cathay Pacific plans to shrink order

Cathay will ‘optimise’ its outstanding order with Boeing for the 777-9 (as we reported earlier), cutting it from 21 planes to between ten and fifteen, shaving USD 7.4 billion off the cost. They are still considering other aircraft for its future needs.

Other airlines will also be cautious, prioritising smaller long-haul jetliners like the 787 or A350, as the long-lasting effects of the COVID-19 pandemic trigger a rethink on the top-of-the-range commercial jets.

Cathay originally ordered 21 of the 777Xs (later christined the 777-9) in late 2013. Priced at USD 377.2 million per aircraft, before customer discounts, the aircraft were initially slated to be delivered between 2021 and 2024, until they deferred the order.

The carrier has suffered enormously during the pandemic, amassing USD 2.8 billion in losses last year and leaving a large number of its 239 aircraft grounded.

Photo: Scramble Archives (Ton Jochems)