8-Aug-2012 2:59 PM

Cathay Pacific converts order for 15 A350-900s to -1000s, orders further 10 A350-1000s

Cathay Pacific and Airbus entered (08-Aug-2012) into a supplemental agreement, pursuant to which the carrier has exercised its right (under a 2010 purchase agreement) to convert an existing order for 16 A350-900 aircraft into larger A350-1000 aircraft. The carrier also exercised an option to purchase an additional 10 A350-1000 aircraft. Swire and Air China, which together own approximately 74.99% of the issued share capital of the company, have approved the transactions. The transactions will be funded through commercial bank loans, other debt instruments of the company and/or cash generated from the company’s business operations. The aircraft will replenish and expand the fleet capacity of the company and will principally serve long-haul destinations in North America and Europe. The company is expecting to take delivery of aircraft from 2018 to 2020. [more - original PR]