Cathay Pacific Airways Ltd is reportedly leaning towards an order of approximately six Airbus A350 freighters. This move is part of the Hong Kong-based airline’s strategy to modernize the oldest part of its fleet, primarily composed of dedicated 747 cargo jets. According to Reuters, the information comes from industry sources who chose to remain anonymous due to the confidentiality of the matter.
A Critical Turnaround for Airbus
This development is a significant turnaround for the Airbus wide-body freighter: Earlier in the year, Cathay Pacific seemed to show a preference for the competing Boeing 777-8F model. However, the airline delayed its decision, leading to the current situation where Airbus appears to have the upper hand.
The decision by Cathay Pacific is crucial, as it is a significant player in the freight market, operating both the 777 and A350 passenger models. The airline’s choice between the Boeing 777X jet family and the Airbus A350 cargo model is seen as a key indicator of the future direction of air freight.
Global Freight Industry Context
Cathay Pacific is a major entity in the air freight industry, ranked as the world’s fifth-largest air freight carrier. It holds the third position among traditional freight airlines, following Qatar Airways and Emirates, excluding express parcel carriers like FedEx and UPS. The deal, estimated at around 2 billion dollars before discounts, represents a significant commitment in the air freight sector.
In a recent statement to analysts, Cathay Pacific acknowledged evaluating various freighter options, noting that cargo demand, while softening, remains substantially higher than pre-pandemic levels. This strategic decision could have a lasting impact on the freighter market and the airline’s operational dynamics.
