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Cathay Pacific Airways Ltd (OTC:CPCAF) (OTC:CPCAY) disclosed buying 6 A350F aircraft from Airbus SE (OTC:EADSY) for $2.71 billion (equivalent to about HK$21.1 billion).
Cathay Pacific expects the Airbus Aircraft to be delivered by the end of 2029. Also, the airline secured the right to acquire 20 more A350 freighters.
The transaction will expand Cathay Pacific's fleet capacity and principally serve long-haul destinations in North America, South America, and Europe.
This order for state-of-the-art aircraft will be delivered commencing from 2027.
Cathay Cargo has a freighter fleet of 20 Boeing Company (NYSE:BA) 747 freighters, including 14 B747-8Fs and six B747-400ERFs.
The selection means Cathay will replace its Boeing 747 fleet with the Airbus aircraft after several months of postponing a decision, according to a Reuters report.
Also Read: Cathay Pacific Set To Place $2B Order For Boeing 777-8F Freighter: Report
In September, Cathay said it would acquire 32 more Airbus A320neo Family aircraft for $4.66 billion. The agreement doubled the total orders for the A320neo Family to 64.
Price Action: CPCAY shares closed higher by 0.51% at $4.93 on Thursday.
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