More wide-body orders rolled in today as Hong Kong-based Cathay Pacific Airways ordered 10 Boeing 777-300ERs and 15 Airbus A330-300s The Wall Street Journal reports, reversing a recent trend of stagnant orders over the past few months.
In fact, this week alone there have been nearly $26 billion worth of orders for Boeing and Airbus planes according to MarketWatch.
Cathay Pacific expects to receive the A330s in 2013 with the 777s starting in 2014. The surge in orders is a positive sign for an industry that has been struggling to make money with fuel prices skyrocketing amidst Middle Eastern turmoil.
Aside from a large narrow-body plane order from American-based International Lease Finance Corp, almost all of the orders this past week have come from Asia, reaffirming analyst predictions that the Asian marketplace is expected to drive growth over the coming years.
Boeing also announced an order today for eight 777s for Aeroflot Russian Airlines but those orders had already been placed and Boeing only decided to identify the customer today.