Cathay Pacific Airways said it had reached agreement with Airbus to delay the delivery of A350s and A321neos and was in advanced talks with Boeing Co about deferring its 777-9 orders, Reuters. The airline said the A350s due to arrive in 2020 and 2021 were now scheduled for 2020-2023 and A321neos expected from 2020-2023 would arrive from 2020-2025. It did not provide further details of the number expected each year. “This deferral of deliveries is expected to produce cash savings to the Cathay Pacific Group in the short to medium term,” it said in a prospectus for its HK$11.7 billion (US$1.51 billion) rights issue lodged with the Hong Kong Stock Exchange. Cathay had expected deliveries of 32 A321neos, 12 A350s and 21 777-9s by 2024, according to a November 2019 investor presentation.

Source: The Standard July 22, 2020 01:18 UTC