Cathay Pacific to buy 8 Airbus A330 aircraft to expand fleet; total list price US$1.7 bln
The Associated Press
Published: December 6, 2007
HONG KONG: Cathay Pacific Airways Ltd. said Thursday it will buy eight A330 Airbus aircraft with a total basic price of US$1.7 billion (€1.15 billion) to expand its fleet capacity.
It didn't disclose the actual cost of the planes. Airlines usually receive significant discounts from list prices on large orders.
The Hong Kong-based airline said delivery is scheduled for between 2010 and 2012. The new planes will be used by Cathay and its sister airline Dragonair and serve destinations in Asia Pacific and mainland China, it said in a statement.
"This is another significant development for the Cathay Pacific Group as we continue expanding our regional and long-haul fleets to further strengthen Hong Kong's position as a leading international aviation hub," Cathay Pacific Chief Executive Tony Tyler said in the statement.
Tyler said the airline was also considering leasing or buying more Airbus A320 aircraft to meet expected growth on secondary routes in the region.
Last month, Cathay ordered 17 new Boeing planes worth US$5.2 billion (€3.53 billion). The latest order of eight aircraft will take the Cathay group's fleet size to 200 planes.
The new Airbus A330 planes will be powered by Rolls Royce Trent 700 engines, according to the statement.
The company said it will pay for the transaction in six installments and fund the deal through commercial bank loans, other debt instruments or cash from its operations.
http://www.iht.com/articles/ap/2007/12/06/business/AS-FIN-Hong-Kong-Cathay-Airbus.php
The Associated Press
Published: December 6, 2007
HONG KONG: Cathay Pacific Airways Ltd. said Thursday it will buy eight A330 Airbus aircraft with a total basic price of US$1.7 billion (€1.15 billion) to expand its fleet capacity.
It didn't disclose the actual cost of the planes. Airlines usually receive significant discounts from list prices on large orders.
The Hong Kong-based airline said delivery is scheduled for between 2010 and 2012. The new planes will be used by Cathay and its sister airline Dragonair and serve destinations in Asia Pacific and mainland China, it said in a statement.
"This is another significant development for the Cathay Pacific Group as we continue expanding our regional and long-haul fleets to further strengthen Hong Kong's position as a leading international aviation hub," Cathay Pacific Chief Executive Tony Tyler said in the statement.
Tyler said the airline was also considering leasing or buying more Airbus A320 aircraft to meet expected growth on secondary routes in the region.
Last month, Cathay ordered 17 new Boeing planes worth US$5.2 billion (€3.53 billion). The latest order of eight aircraft will take the Cathay group's fleet size to 200 planes.
The new Airbus A330 planes will be powered by Rolls Royce Trent 700 engines, according to the statement.
The company said it will pay for the transaction in six installments and fund the deal through commercial bank loans, other debt instruments or cash from its operations.
http://www.iht.com/articles/ap/2007/12/06/business/AS-FIN-Hong-Kong-Cathay-Airbus.php