Cathay Pacific orders Airbus, Boeing planes as annual profit triples
09 Mar 2011
Hong Kong-based carrier Cathay Pacific Airways Ltd has ordered 15 Airbus 330-300s and 10 Boeing 777-300s, betting on further growth in Asian travel and also reporting a tripling of net profits last year.
Net income jumped to HK$14 billion ($1.8 billion) last year from HK$4.7 billion a year earlier, it said in a separate statement.
The airline retains options for another 14 planes, though there are no details on this.
The airline, a global giant, now prepares for rising Asian travel demand as well as growing competition in the home market.
Rival Hong Kong Airlines yesterday said it had ordered 38 Boeing wide-body aircraft.
Cathay will lease two A350-900s from International Lease Finance Corp. in addition to the 30 it ordered last year, it said in a press release.