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Cathay Pacific Airways Ltd announces purchase of Boeing Co's 21 Boeing 777-9X Aircraft

Friday, 20 Dec 2013 04:20am EST 

Cathay Pacific Airways Ltd:Says on Dec. 20, CPAS and Boeing Co entered into the Purchase Agreement, pursuant to which CPAS has agreed to purchase the Boeing Aircraft (being 21 Boeing 777-9X aircraft) from Boeing Co.Says Swire Pacific and Air China, which together own about 74.99 pct of the issued share capital of the company, have approved the transaction.Says the aircraft basic price of the Boeing Aircraft is about $7,464 mln (equivalent to about HK$58,219 mln).Says the consideration for the purchase of each of the Boeing Aircraft is payable in cash in six instalments, with the first five instalments to be paid prior to delivery of each aircraft and the balance, being a substantial portion of the consideration, to be paid upon delivery of the aircraft.Says it is expecting to take delivery of the Boeing Aircraft from 2021 to 2024.Says the transaction will be funded through commercial bank loans, other debt instruments of the Company and/or cash generated from the Company‚Äôs business operations. 

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