Hong Kong’s Cathay posts 1.1% rise in first-half net profit, orders new planes

Flag carrier says it will buy 14 Boeing 777-9 aircraft, in addition to other 21 ordered under 2013 agreement with US-based manufacturer

The group announced on Wednesday that it would purchase 14 Boeing 777-9 aircraft as part of its 2013 agreement with the US-based manufacturer, under which it previously ordered 21 planes of the same model scheduled for delivery in 2027 or later.

The company also secured the rights to acquire up to seven additional Boeing 777-9 aircraft.

The 14-strong fleet costs at least HK$63.2 billion before concessions and is expected to be delivered by 2034, with the carrier intending to finance the purchase through commercial bank loans, the company’s cash and others.

Cathay said it received a concession from the manufacturer and the bill would be lower than such a price.

Hong Kong’s Cathay posts 1.1% rise in first-half net profit, orders new planes

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