Cathay delays Airbus deliveries to stem crippling cash drain
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Singapore
CATHAY Pacific Airways Ltd agreed with Airbus SE to delay deliveries of aircraft by as much as two years in a move that could cut the carrier's monthly cash losses in half while the coronavirus pandemic slams the aviation industry.
Deliveries of A350-900s and A350-1000s have been deferred to 2020-2023 from 2020 and 2021, while A321neo deliveries have been pushed back to 2020-2025 from 2020-2023, Cathay said in a prospectus for its HK$11.7 billion (S$2.1 billion) rights issue.
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