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Cathay Pacific says has 90 aircraft on order at cost of $27 billion
August 13, 2014 / 8:43 AM / 3 years ago

Cathay Pacific says has 90 aircraft on order at cost of $27 billion

HONG KONG (Reuters) - Hong Kong carrier Cathay Pacific Airways Ltd (0293.HK) said on Wednesday that as of June 30, it has 90 aircraft on order for delivery by 2024 at a catalogue price of HK$210 billion ($27 billion) as it rolls out new long-haul services.

Lined up banners are seen at a city check-in counter of Cathay Pacific Airways in downtown Hong Kong August 8, 2012. REUTERS/Bobby Yip

In a filing to the Hong Kong stock exchange earlier on Wednesday, Cathay said January-June net profit jumped nearly 15-fold to HK$347 million ($45 million) from just HK$24 million a year ago, when earnings were squeezed hard by high fuel prices and weak cargo demand.

    That was well above a mean estimate of HK$153 million from three varied forecasts by analysts polled by Reuters.

    (This story has been refiled to correct headline and first paragraph to say 90 aircraft on order for delivery, not that Cathay has bought 19 aircraft)

    Reporting By Donny Kwok; Editing by Anne Marie Roantree

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