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Cathay Dragon signs MOU to buy Airbus aircraft worth US$4.1b
HONG Kong's Cathay Dragon has signed a memorandum of understanding (MOU) for the acquisition of 32 Airbus A321neo aircraft.
The MOU, inked between the Cathay Pacific Group and Airbus in Toulouse, France, is valued at approximately HKD31.7 billion (US$4.05 billion) at current list prices.
The new aircraft, which are scheduled to be delivered between 2020 and 2023, are intended to replace Cathay Dragon's existing single-aisle fleet of 23 aircraft, comprising 15 Airbus A320s and eight Airbus A321s.
Cathay Pacific CEO and Cathay Dragon chairman Rupert Hogg said: "We look forward to introducing the aircraft into our fleet and expanding the reach of the Cathay Pacific Group to more customers.
"The intention to purchase these 32 environmentally-friendly aircraft will allow us to add new destinations to Cathay Dragon's network. We also intend to increase frequencies on some of our most popular routes in order to provide our customers with more travel choices and convenience.
"Having focused on modernising and expanding Cathay Pacific's long-haul fleet in recent times, this is an exciting new chapter for Cathay Dragon following last year's rebranding to enhance a seamless travel experience for our customers.
"The substantial investment we are making in new aircraft underlines our confidence in the future of the Cathay Pacific Group, as well as our commitment to bolstering Hong Kong's position as Asia's largest international aviation hub as we bring new connectivity to and from our home."
Airbus COO Customers, John Leahy, said: "Airbus is proud to have been selected to supply Cathay Dragon's future single-aisle fleet. This is another major endorsement of the A321neo as the aircraft of choice for airlines in the middle-of-the-market segment.
"The A321neo offers the lowest possible operating costs, longest range capability and most spacious cabin in its class. It will be the perfect aircraft for Cathay Dragon as it builds on its success as one of Asia's leading regional carriers."
According to Airbus' design specifications, the A321neo has a seating capacity of up to 240 passengers and has an extended range of up to 7,400 km. The aircraft also shows impressive figures in terms of noise reduction, up to 50 per cent less than that of the current A321 aircraft.
The MOU, inked between the Cathay Pacific Group and Airbus in Toulouse, France, is valued at approximately HKD31.7 billion (US$4.05 billion) at current list prices.
The new aircraft, which are scheduled to be delivered between 2020 and 2023, are intended to replace Cathay Dragon's existing single-aisle fleet of 23 aircraft, comprising 15 Airbus A320s and eight Airbus A321s.
Cathay Pacific CEO and Cathay Dragon chairman Rupert Hogg said: "We look forward to introducing the aircraft into our fleet and expanding the reach of the Cathay Pacific Group to more customers.
"The intention to purchase these 32 environmentally-friendly aircraft will allow us to add new destinations to Cathay Dragon's network. We also intend to increase frequencies on some of our most popular routes in order to provide our customers with more travel choices and convenience.
"Having focused on modernising and expanding Cathay Pacific's long-haul fleet in recent times, this is an exciting new chapter for Cathay Dragon following last year's rebranding to enhance a seamless travel experience for our customers.
"The substantial investment we are making in new aircraft underlines our confidence in the future of the Cathay Pacific Group, as well as our commitment to bolstering Hong Kong's position as Asia's largest international aviation hub as we bring new connectivity to and from our home."
Airbus COO Customers, John Leahy, said: "Airbus is proud to have been selected to supply Cathay Dragon's future single-aisle fleet. This is another major endorsement of the A321neo as the aircraft of choice for airlines in the middle-of-the-market segment.
"The A321neo offers the lowest possible operating costs, longest range capability and most spacious cabin in its class. It will be the perfect aircraft for Cathay Dragon as it builds on its success as one of Asia's leading regional carriers."
According to Airbus' design specifications, the A321neo has a seating capacity of up to 240 passengers and has an extended range of up to 7,400 km. The aircraft also shows impressive figures in terms of noise reduction, up to 50 per cent less than that of the current A321 aircraft.
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