Cathay Pacific to lease used 777-300ER from Air Lease Corporation

Air Lease Corp. has acquired one 2009 Boeing 777-300ER, which it will lease through 2022 to Cathay Pacific Airways, a new customer for ALC.

ALC president and CEO John Plueger called the deal “an incremental transaction for ALC in 2012 that is perfectly in line with our growth plan.”

Hong Kong-based CX said last month it would deploy more fuel-efficient 777-300ERs on more routes and speed up the retirement of its older 747-400s as part of its plan to cut costs and reduce capacity as operating costs rise due to high fuel prices and economic uncertainty.

(Linda Blachly - ATWOnline News)