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Cathay Pacific defers A350 and A321neo deliveries, plans to defer Boeing 777-9s

July 22, 2020
2 min read
Cathay Pacific defers A350 and A321neo deliveries, plans to defer Boeing 777-9s
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Cathay Pacific reached a deal with Airbus on Wednesday to delay the delivery of its order of A350s and A321neos. The airline is also in talks with Boeing to defer the delivery of its 777-9 order in order to preserve cash.

Reuters reports the Airbus deferrals are for orders of a total of 65 aircraft as per an investor presentation that the airline made in November 2019. The order of 12 A350s, originally due to arrive in 2020 and 2021, are now scheduled to arrive from 2020 up to 2023. The 32 A321neos were originally scheduled to be delivered from 2020 to 2023, but this has been extended further from 2020 to 2025.

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A new delivery date has not yet been agreed for the 21 Boeing 777-9s, which were originally scheduled for 2024. The 777-9 is the larger of the two "777X" variants Boeing has planned as part of its update to the widebody workhorse. The first of those variants, the 777-9, flew for the first time in Washington state in January.

As for Cathay Pacific, its order shake-up comes as the airline industry is suffering through the most significant downturn in demand since 9/11. As such, airlines around the world, especially weaker airlines or those that were already struggling before the pandemic hit, are having to make aircraft, route and staff cuts to save money and stay afloat.

In-depth: The Boeing 777 turns 25: All about the new Boeing 777X

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“This deferral of deliveries is expected to produce cash savings to the Cathay Pacific Group in the short to medium term,” the airline said in a prospectus with the Hong Kong Stock Exchange.

In April, the airline announced that it would reduce some fuel charges, which was ultimately good news for Cathay Pacific enthusiasts who book award tickets through American Airlines, Asia Miles and/or British Airways Executive Club.

Related: Stellar Service: Cathay Pacific (777-300ER) in Economy from Los Angeles to Hong Kong

Featured image by Picasa

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TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
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10XEarn unlimited 10X miles on hotels and rental cars booked through Capital One Travel
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Why We Chose It

The Capital One Venture X card is one of the best all-round travel credit cards ever launched. Not only is it offering a tremendous welcome bonus, but cardholders can earn tons of miles on everyday spending and receive a 10,000-mile anniversary bonus to boot. Its annual fee is $395, but cardholders can count on up to $300 in statement credits toward travel booked through Capital One Travel each year and other valuable benefits like access to Priority Pass lounges and Capital One’s own growing family of airport lounges.

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  • Excellent welcome offer worth 75,000 miles after you spend $4,000 on purchases in the first three months.
  • Up to $300 in annual travel statement credits toward bookings make through Capital One Travel.
  • 10,000 bonus miles (worth $100 toward travel) each account anniversary.

Cons

  • The $395 annual fee might be expensive for some, but this card’s benefits provide much more value than that.
  • If you don’t travel frequently, this might not be the best card for you.
  • Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
  • Receive up to $300 back annually as statement credits for bookings through Capital One Travel, where you'll get Capital One's best prices on thousands of options
  • Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary
  • Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights booked through Capital One Travel
  • Earn unlimited 2X miles on all other purchases
  • Unlimited complimentary access for you and two guests to 1,400+ lounges, including Capital One Lounges and our Partner Lounge Network
  • Receive up to a $100 credit for Global Entry or TSA PreCheck®
  • Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more—you can even transfer your miles to your choice of 15+ travel loyalty programs
  • Named editors' choice for "Best New Credit Card of 2021" by The Points Guy
  • Earn 10 miles per dollar when you book on Turo, the world's largest car sharing marketplace, through May 16, 2023