Cathay agrees deal to retire old aircraft
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Cathay Pacific has signed a new agreement that will enable it to retire its old fleet of Airbus A340 aircraft.
The Hong Kong-based airline is planning to replace its 11 A340-300s with a new fleet of A350 aircraft, which are more fuel-efficient. And it has now signed a contract that will see UK-based AerFin acquire the old aircraft between now and 2017.
The first A340 will be delivered to AerFin in March 2015 and will be disassembled to provide Cathay and other AerFin customers with parts.
Cathay is in the process of modernising and expanding its passenger fleet, with all A340s, Boeing 747-400s and B777-200s being replaced by its new fleet of 48 A350s. It also has outstanding orders for Boeing’s new B777-X model.
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