Cathay Pacific Set To Place $2B Order For Boeing 777-8F Freighter: Report

Author: Akanksha Bakshi | May 30, 2023 08:46am

Cathay Pacific Airways Ltd (OTC:CPCAY) reportedly plans to renew a portion of its fleet of dedicated 747 cargo jets.
Cathay Pacific is close to placing an order worth around $2 billion for Boeing Co (NYSE:BA) 777-8F freighters as it embarks on the partial renewal of a fleet of dedicated 747 cargo jets, reported Reuters, citing industry sources.
The decision comes after a hard-fought struggle for Cathay Pacific, which was weighing the all-freight version of the future Boeing 777X jet family against a forthcoming cargo model of the existing Airbus SE (OTC:EADSY) A350, added the report.
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"We continue to invest in and grow our fleet with the addition of new, state-of-the-art, and fuel-efficient aircraft," stated a Cathay spokesperson via email to Reuters.
"At this time, we have no specific updates or announcements to make regarding the fleet," added the spokesperson.
Price Action: BA shares are trading higher by 0.19% at $204.01 premarket on Tuesday. CPCAY closed higher by 0.86% at $4.69 on Friday.