Cathay Pacific Airways plans to convert sixteen previously ordered Airbus A350-900 aircraft into Airbus A350-1000, following approval by the Company Board.

The airline will also exercise an option to purchase a further ten A350-1000 aircraft, with a list price of approximately HK$25.5 billion.

The cost of the conversion is said to be close to HK$8.5 billion, but will provide the airline with a more fuel-efficient and customer-friendly fleet.

“This is an important and strategic development for Cathay Pacific. The A350-1000 aircraft will bring us world-beating fuel efficiency and environmental friendliness,” Cathay chief John Slosar said.

“It will also be a very popular aircraft with our customers and its improved payload and range will allow us to connect more and more important cities worldwide directly with Hong Kong.”

Airbus president and chief Fabrice Brégier was proud of the endorsement provided by Cathay Pacific.

“The A350-1000 will be a game changer in the 350- seat category, offering outstanding payload range capability, new levels of comfort and a 25 percent reduction in fuel burn. We look forward to building on our long-term relationship with Cathay Pacific as the airline brings new levels of efficiency to the long haul market.”

Mr Slosar said that the latest aircraft order demonstrates the airline’s commitment as Hong Kong’s home carrier.

In related news, Cathay Pacific is investing HK$5.9 billion in a new cargo terminal at Hong Kong International Airport, scheduled to open in early 2013.