Hong Kong’s Cathay posts 1.1% rise in net profit as it orders another 14 aircraft
Flag carrier says it will buy 14 Boeing 777-9 aircraft, in addition to other 21 ordered under earlier agreement with US-based manufacturer
Hong Kong’s flag carrier announced on Wednesday that it would buy 14 Boeing 777-9 jets as part of an agreement made in 2013 with the US-based manufacturer, under which it earlier ordered 21 aircraft of the same model scheduled for delivery in 2027 or later.
Cathay Group also secured the rights to acquire up to seven more Boeing 777-9 aircraft.
The list price for the 14 aircraft is at least HK$63.2 billion but Cathay said it had received concessions from Boeing and the bill would be lower than that.
The jets are expected to be delivered by 2034 and the carrier intends to finance the purchase through commercial bank loans, company cash and other methods.
Cathay also said that the new fuel-friendly jets would replace some of its existing long-haul widebody aircraft and serve long-haul and selected regional destinations.