Cathay splashes the cash
Cathay Pacific will add a further 27 aircraft to its fleet following a strong financial performance in 2010.
The airline has agreed to buy 15 more Airbus A330-300s and a further 10 Boeing 777-300ERs.
It has also inked a deal with aircraft leasing company ILFC to add two more Airbus A350-900s. All of these new aircraft will be delivered before the end of 2015.
The latest orders come on top of the airline’s biggest-ever order, made in September last year, for 30 Airbus A350-900s to be delivered from 2016 to 2019 and six Boeing 777-300ERs to be delivered between 2013 to 2014.
Cathay Pacific CEO Tony Tyler said the airline would retire 21 Boeing 747-400 and 11 Airbus A340-300 aircraft before the end of the decade to accommodate new generation aircraft.
The Cathay Pacific Group has recorded a profit of HK$14,048 (US$1,803 million) for 2010.
This result, a record for the group, compares to a profit of HK$4,694 million for 2009.
Turnover for the year rose by 33.7%.
Cathay also confirmed that all eligible staff would receive a 2010 profit share of five weeks’ salary plus either HK$6,000
(US$770) or half of the staff’s monthly salary, whichever is lower.
Ian Jarrett
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