Cathay Pacific buys 32 Airbus A321-200neo aircraft for $4.66 billion

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103 shares, 164 points

(Reuters) -Hong Kong’s Cathay Pacific Airways said on Friday it had purchased 32 Airbus A321-200neo aircraft from Airbus for a basic price of $4.66 billion.

The deal follows an agreement between an Airbus unit and the aircraft acquisition facilitators of Hong Kong’s flagship carrier in September 2017.

Cathay expects the aircraft to be delivered by the end of 2029, and expand the fleet capacity of Hong Kong Express, one of its units.

Hong Kong-based conglomerate Swire Pacific and Air China, which together hold more than 50% of the voting rights in Cathay, have approved the deal, the airline said in a filing.

“Swire Pacific and Air China do not have any interest in the transaction other than as shareholders,” Cathay said.

(Reporting by Rishav Chatterjee in Bengaluru; Editing by Devika Syamnath)

Source: KFGO


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