Cathay Pacific Agrees To Buy 6 Airbus 350-900
January 19 2012 - 11:13PM
Dow Jones News
Cathay Pacific Airways Ltd. (0293.HK) said Friday it agreed to
buy six Airbus aircraft with a total catalog price of US$1.63
billion as part of its expansion plans.
The blue-chip Hong Kong-based airline, which is controlled by
conglomerate Swire Pacific Ltd. (0019.HK), said it agreed to buy
six A350-900 long-haul aircraft from Airbus, a unit of European
Aeronautic Defence & Space Co. (EAD.FR).
The airline didn't disclose the actual cost of the purchases,
but it said Airbus had granted it "significant price concessions."
Airlines usually receive discounts from manufacturers for large
aircraft orders.
Cathay Pacific said it expects to take delivery of the planes
between 2016 and 2017.
The company will fund the transaction with commercial bank
loans, other debt instruments and internal cash resources, it
added.
-By Joanne Chiu, Dow Jones Newswires; 852-2802-7002;
joanne.chiu@dowjones.com
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