Boeing, Cathay
Pacific Airways Finalize Agreement for 777-300ERs
SEATTLE,
Dec. 15, 2005 – The Boeing Company [NYSE:
BA] and Cathay Pacific Airways yesterday signed a
definitive agreement for the purchase of 12
Boeing 777-300ER (Extended Range) jetliners and
purchase rights for 20 additional 777-300ERs.
Cathay Pacific announced its intention to order
the 12 aircraft, valued at approximately US$2.85
billion at list prices, earlier this month in
Hong Kong.
Cathay Pacific plans to take delivery of the new
777-300ERs between September 2007 and July 2010.
The 777-300ERs will be powered by the General
Electric GE 90-115BL2 engine, the world’s
largest and most powerful commercial jet engine.
Separately, Cathay Pacific plans to lease four
more 777-300ERs from International Lease Finance
Corporation.
“This is one of the world’s best
airlines choosing one of the world’s best
airplanes,” said Alan Mulally, president and
CEO, Boeing Commercial Airplanes. “Cathay
Pacific’s reputation for exceptional
passenger service and effective and profitable
operations makes its selection of the 777-300ER
especially rewarding.”
An initial launch customer of the Boeing 777-200
and later of the 777-300, Cathay Pacific has
played a critical role in the program’s
success and especially in shaping the performance
capabilities and comfort standards of the 777
twinjet family. The 777 fuselage cross-section
finally adopted by Boeing during the
aircraft’s design phase was originally
proposed by Cathay Pacific. The airline currently
operates 16 777-200s and -300s for regional
operations, and with this order the carrier has
endorsed the 777 family as the standard of its
ultra-long-haul service for the future.
“These aircraft orders mark an exciting and
significant milestone in the development of our
airline,” said Philip Chen, chief executive
officer, Cathay Pacific Airways. “These
aircraft will enhance our strength as a carrier
and Hong Kong’s position as a global hub and
gateway to the Chinese Mainland.”
The 777 family of airplanes is popular with
passengers and airlines alike due to its
fuel-efficient twin-engine design, high
reliability, low operating costs, and comfortable
and spacious interior. The 777-300ER carries 365
passengers up to 7,880 nautical miles (14,594
kilometers).
Recently, Boeing made enhancements to the
777-300ER that improve the airplane’s
overall fuel efficiency by 1.4 percent. This
amount is in addition to the 2 percent fuel-burn
improvement already proven in revenue service by
airlines that currently operate the 777-300ER.
The 1.4 percent improvement in fuel efficiency
equates to an annual savings of approximately
200,000 gallons (757,000 liters) per aircraft.
With today’s signing, Boeing has secured 127
orders for the 777 in 2005. Over the life of the
777 program, 43 airlines worldwide have placed
800 firm orders for 777s.
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