NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

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

Published 13/08/2014, 11:07
Cathay Pacific says has 90 aircraft on order at cost of $27 billion
0293
-

HONG KONG (Reuters) - Hong Kong carrier Cathay Pacific Airways Ltd (HK:0293) 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 (16.19 billion pounds) as it rolls out new long-haul services.

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 (26.7 million pounds) 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.

© Reuters. Lined up banners are seen at a city check-in counter of Cathay Pacific Airways in downtown Hong Kong

(This version of the story corrects 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)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.