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
-
Ferry breakdown leaves hundreds stranded on Afram River
1 hour -
Elon Musk misled Twitter investors, jury finds
3 hours -
Iranian strikes on bases used by US caused $800m in damage, new analysis shows
3 hours -
Businessman jailed 10 years for fraud, false cheque issuance
3 hours -
Joy Ghana Fest 2026 builds momentum ahead of explosive Day 2 at Achimota Retail Centre
3 hours -
Thrills, laughter, awe and wild encounters mark first day of Joy FM’s ‘Joy Safari Experience 2026’
4 hours -
Ewoyaa residents demand two-month compensation deadline following Lithium deal ratification
5 hours -
Zongo communities face ‘alien’ labelling in battle for Ghana cards
5 hours -
“No bad blood”: Ursula hits back over SIM registration “feud” claims
6 hours -
This Saturday on Prime Insight: Experts delve into SIM registration woes and surging fuel prices
7 hours -
This Saturday on Newsfile: Economy, Jobs, and Galamsey to dominate discussions
7 hours -
GCB Bank MD Farihan Alhassan nominated to Mastercard Africa Leadership Council
7 hours -
Mfantsipim@150: Chairman rallies national support as school unveils anniversary cloth and songs
8 hours -
Morocco walkout: Guinea seeks review of 1976 AFCON title
9 hours -
Wenchi chieftaincy dispute still unresolved – Sɔfoase Yɛfretete family
9 hours
