Cathay Pacific will buy 30 Airbus A330-900 wide-body aircraft, with options to buy another 30, the Hong Kong-based airline said on Wednesday.

Delivery is expected by the end of 2031, the airline said.

The planes will replace existing aircraft and will fly regionally within Asia, with the option to be used on longer-haul routes in the future, Cathay said.

Cathay did not disclose the purchase price but said 30 A330s have a basic price of $11 billion and significant price concessions were given on that.

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Cathay operates a mixed fleet of Boeing and Airbus aircraft.

Cathay first publicly flagged the possibility of a mid-sized wide-body purchase in late 2022.

Planemaker Airbus says its A330-900 jets, the largest model of the new-generation A330neo family, can seat up to 460 people and reduce fuel consumption and carbon emissions by 25% compared to previous generation aircraft.