© Reuters. FILE PHOTO: A Cathay Pacific cargo plane flies over Hong Kong Worldwide Airport in Hong Kong, China October 20, 2020. REUTERS/Lam Yik/File Picture
(Reuters) -Cathay Pacific Airways Ltd is leaning in direction of putting an order for round six Airbus A350 freighters because the Hong Kong service renews the oldest part of its fleet of devoted 747 cargo jets, trade sources stated.
If confirmed, the choice marks a bounce again for the Airbus wide-body freighter after Cathay earlier this yr appeared to favour the competing Boeing (NYSE:) 777-8F, earlier than suspending a choice for a number of months, stated the sources, talking on situation of anonymity to debate confidential issues.
Airbus and Boeing had no speedy remark. Cathay was not instantly accessible for remark outdoors enterprise hours.
Cathay’s resolution on the place to position bets for the subsequent section of its cargo growth has been seen as a key take a look at for the 2 freighters as a result of the airline operates the underlying 777 and A350 passenger fashions.
Airbus and Boeing have been battling arduous for the enterprise of one of many world’s top-five freight airways, which has been evaluating the all-freight model of the long run Boeing 777X jet household with an upcoming cargo mannequin of the prevailing Airbus A350.
Cathay Pacific is the world’s fifth-largest air freight service and the third-largest conventional freight airline behind Qatar Airways and Emirates when specialist categorical parcel carriers FedEx (NYSE:) and UPS are excluded, in keeping with newest accessible knowledge from the Worldwide Air Transport Affiliation.
Trade sources have stated the competitors pointed to an preliminary buy of round half a dozen plane, value some $2 billion at checklist costs earlier than conventional airline reductions.
Cathay Pacific informed analysts in August it was taking a look at freighters and “persevering with to check numerous alternatives”.
On Friday, it informed analysts cargo demand had softened however was “nonetheless a lot increased than pre-pandemic occasions”.
