Audio By Carbonatix
Hong Kong’s Cathay Pacific Airways Ltd on Monday said it would sell six Boeing 777-300ER aircrafts and its associated equipment for $703.8 million to BOC Aviation Ltd.
The sale will enable Cathay Pacific to realize cash which will be used towards its general working capital requirements, the company said in a statement.
The carrier last week warned of a substantial loss in the first half of the year and flagged more cuts in flights due to the “unprecedented challenge” from the coronavirus outbreak that has forced it to ground more than half of its fleet.
Cathay said it would lease the aircrafts back from BOC Aviation.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
I will only submit my allegations to a board, not the OSP’s subordinates – Martin Kpebu
7 minutes -
‘I’m still a bit traumatised’ – Martin Kpebu recounts alleged abuse during OSP arrest
11 minutes -
Martin Kpebu denies verbally abusing OSP officers, says allegations are fabricated
11 minutes -
Mahama arrives in Doha for 2025 Doha Forum engagements
41 minutes -
Milo U13 Champs: Ahafo’s Adrobaa set for thrilling final with Franko International of Western North
3 hours -
Ghana’s HIV crisis: Stigma drives new infections as AIDS Commission bets on AI and six-month injectables
4 hours -
First Ladies unite in Accra to champion elimination of mother-to-child HIV, Syphilis, and Hepatitis B transmission
4 hours -
US Supreme Court agrees to hear case challenging birthright citizenship
5 hours -
Notorious Ashaiman robber arrested in joint police operation
6 hours -
Judge sets key dates after video evidence hurdle in Nana Agradaa appeal case
7 hours -
Who are favourites to win the 2026 World Cup?
7 hours -
Galamsey crisis spiritual, not just economic; Pulpit and policy intervention needed – Prof. Frimpong-Manso
7 hours -
We will come after you – Muntaka warns online fearmongers
7 hours -
Forestry office attack: Suspected gang leader arrested, two stolen cars recovered
8 hours -
How Asamoah Gyan reacted after Ghana was paired with England, Croatia, and Panama for the 2026 World Cup
9 hours