Paul Lewis/SINGAPORE
Cathay Pacific Airways is to begin phasing out of service all six of its Boeing 747-300s within 12 months and is close to finalising a deal to dispose of a further two 747-200s, as the Hong Kong carrier continues to cut capacity in the face of a weak Asian passenger market. Meanwhile, the airline is studying an offer from Boeing for more 747-400 freighters.
The airline is hoping to sell or lease the Rolls-Royce RB211-powered 747-300s, originally delivered new to Cathay in 1985-8. The aircraft will be withdrawn from service from October 1999, ahead of the start of the winter season and, in the absence of any takers, will be stored in the desert.
Cathay is hoping that the aircraft will fetch $30-40 million each, although the market for secondhand 747s appears to be softening. The six aircraft have each undergone a section 41 modification and feature a refurbished two-class interior complete with in-flight entertainment system in all seats. They are equipped, however, with the less powerful RB211-524C2, rather than the D4.
The carrier expects to withdraw its final two 747-200s from service by the end of this year. The first of two D4-powered -200s recently leased to Virgin has been delivered, with the second to follow shortly. Three C2-powered -200s are stored in the USA and two will be leased for five years to Air Atlanta Icelandic, for wet-lease to Iberia.
Boeing, in the meantime, has made Cathay Pacific Cargo an attractive offer on four new Boeing 747-400Fs, as the manufacturer attempts to boost the weakening demand for the aircraft. The carrier has been seeking buyers for its four R-R RB211-powered -200Fs as well as three General Electric CF6-50E2-powered 747-200Fs operated by Air Hong Kong, with Atlas viewed as a possible taker.
Cathay will take delivery in November of its final Airbus A330-300 on order, boosting its fleet to a total of 13 twinjets and 11 A340-300s. The only other aircraft remaining on order are three more Boeing 777-300s, due for delivery in 1999, which, when completed by October, will bring the fleet to a total of seven.
Cathay also operates another four 777-200s, which it has indicated might also be sold.
Source: Flight International
