Cathay Pacific places US$1.0bn CFM LEAP-1A engine order

The Cathay Pacific Group and CFM International have finalized an order for the advanced LEAP-1A engine to power the Group’s 32 new Airbus A321neo aircraft. The engine order is valued at nearly US$1bn at list price, with delivery scheduled from 2020. The aircraft will be operated by Cathay Dragon, the regional carrier of the Group, replacing and modernizing its existing single-aisle fleet of 15 A320s and eight A321s, while supporting the airline’s continued expansion in the Asia-Pacific region. The Group has also signed a long-term Rate per Flight Hour (RPFH) maintenance agreement with CFM International. Under the terms of the agreement, CFM will guarantee maintenance costs on a dollar per engine flight hour basis.