Boeing and Cathay Pacific have announced an order for three 747-8 Freighters in a deal valued at roughly $1 billion at list prices.
The order will bring Hong Kong-based Cathay’s 747-8F fleet to 13 as it phases out its fleet of 747-400F freighters.
The two companies also said Cathay had taken options on five 777 Freighters. That came after Cathay announced last week that it would cancel an order for eight Boeing 777-200 Freighters, citing weaker demand for cargo capacity.
Boeing has struggled to find customers for the newest generation of its iconic jumbo jet, though the cargo version has sold better than the passenger variant. To date, Boeing says it has taken orders for 70 747-8Fs. It has delivered 28 since the first aircraft went into service in late 2011.
Boeing claims the 747-8F carries 16 per cent more freight than its predecessor and has the lowest operating costs of any large freighter. After more than 100,000 hours in service, the company says 747-8F operators are reporting one per cent better fuel burn than expected.