[HONG KONG] Boeing Co landed the first buyer in Asia for the new 777X jet with a US$7.5 billion sale to Cathay Pacific Airways Ltd, widening the customer base for a plane pivotal to staying ahead of Airbus SAS in the long-haul market.
"Cathay's order is a vote of confidence in the model," Patrick Xu, a Hong Kong-based analyst at Barclays plc, said on Friday.
The airline, Asia's largest on international routes, will acquire 21 of the larger -9 version of the 777X and fly them to North America and Europe. The 777X will be Boeing's first passenger jet of the next decade, and Hong Kong-based Cathay said that deliveries will run from 2021 through 2024.
Cathay's purchase pushed the value of 777X deals...