Transportation
Cathay Places $11 Billion Airbus Order as Net Profit Slips
- Deal is for 30 aircraft with purchase rights for 30 more
- Carrier also reported a 15.3% slide in first-half net income
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Cathay Pacific Airways Ltd. will buy as many as 60 Airbus SE A330neo twin-aisle jets in an HK$85.5 billion ($11 billion) deal to underpin its ambitious expansion from its base in Hong Kong.
The carrier on Wednesday confirmed an earlier Bloomberg report that it has placed an order with the European planemaker, overlooking an offer from US rival Boeing Co. for 787 Dreamliner jets.