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Cathay Pacific Airways agreed to buy 6 aircraft from Airbus

Jan. 25, 2012 (China Knowledge) - Cathay Pacific Airways Ltd<0293>, Hong Kong's largest air carrier, yesterday announced that it has entered into an agreement to purchase six A350-900 aircraft from Airbus S.A.S for a total basic price of US$1.63 billion or around HK$12.7 billion.

Pursuant to the agreement, the Hong Kong-listed carrier will pay Airbus cash in eight installments, of which the first seven installments would be paid prior to delivery of each aircraft.

The deal will be funded via self-financing, bank loans and other debt instruments, said Cathay Pacific Airways, which expects to take delivery of the six aircraft between 2016 and 2017.

Last March, Cathay Pacific Airways agreed to purchase 15 A330-300 aircraft from Airbus.

On March 9, 2011, the Hong Kong carrier inked an agreement to buy ten 777-300ER aircraft from U.S.-based Boeing Co.

Cathay Pacific Airways also inked two deals with Boeing to purchase four Boeing 777-300ER aircraft and eight Boeing 777-200F freighters in August 2011.

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