Cathay Pacific Embarks on Major Fleet Upgrade

Cathay Pacific Airways (HK:0293) has released an update.

Cathay Pacific Airways Limited has announced a major deal with Airbus S.A.S. to purchase 30 Airbus A330-900 aircraft, with an option for 30 more, signaling a significant expansion and modernization of its fleet. The transaction, valued at a basic price of approximately US$11 billion, will be financed through various means including loans and company funds, and aims to improve fuel efficiency and passenger comfort. The deal is set to progressively replace the airline’s mid-size widebody fleet and is approved by major shareholders Swire Pacific and Air China.

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