Cathay Pacific Airways (0293.HK) of Hong Kong said on Friday that it has ordered 32 Airbus A321-200neo aircraft from Airbus (AIR.PA) for a basic price of $4.66 billion. Cathay Pacific Airways is based in Hong Kong.
This purchase comes as a result of an agreement that was reached in September 2017 between a unit of Airbus and the aircraft acquisition facilitators of Hong Kong’s flagship carrier.
Cathay anticipates that the aircraft will be delivered by the end of the year 2029, which would increase the fleet capacity of Hong Kong Express, which is one of its subsidiaries.
According to a document made by Cathay, the Hong Kong-based conglomerate Swire Pacific (0019.HK) and the Chinese carrier Air China (601111.SS), which together own more than 50% of the voting rights in Cathay, have given their approval to the transaction.
“Swire Pacific and Air China do not have any interest in the transaction other than as shareholders,” Cathay added. “[T]hey have no other interest in the transaction.”
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