Andrew Doyle/SINGAPORE
Cathay Pacific Airways expects to double the size of its fleet to 150 aircraft over the next six to eight years to meet traffic growth forecasts averaging 7-8% annually, primarily on routes from Asia to Europe and the USA.
If the airline's bullish traffic predictions are borne out, the dramatic fleet expansion will be required to prevent Cathay losing market share to ambitious regional competitors such as Singapore Airlines (SIA), say industry sources.
The Hong Kong-based carrier is already adding 14 aircraft to its fleet during 2001 for a 20% capacity increase, which will see it operating 78 widebodies by year-end following the return of three leased Airbus A340-300s to Air China.
The airline cautions that its traffic forecast "remains subject to economic and market conditions", but confirms that it is holding discussions with Airbus and Boeing regarding its fleet requirements. It has already announced plans to acquire an ultra-long-haul variant of the A340 or 777 for non-stop transpacific flights, and is known to be looking at the ultra-large A380 and 747X, as well as additional freighters.
Cathay, which posted a record net profit of HK$5 billion ($641 million) for last year, recently confirmed plans to lease three A340-600s from International Lease Finance, which will be delivered next year and in 2003. Among the aircraft joining the fleet this year are a single new-build A330-300, which is due to arrive in November, and three ex-SIAA340-300s being leased from Boeing Aircraft Trading.
The airline now operates 19 Boeing 747-400s, three -400Fs, seven -200Fs, seven 777-300s, five -200s, 15 A340-300s and 14 A330-300s.
Source: Flight International
