Cathay seeks further delays in new plane deliveries
Mon, Jun 08, 2009
Reuters
KUALA LUMPUR - Cathay Pacific said on Monday that it is seeking further deferrals on new aircraft orders amid a downturn in the airline industry.
"We have already delayed some of our deliveries" said CEO Tony Tyler on the sidelines of an airline meeting in Kuala Lumpur, adding that the airline was in talks with "both manufacturers" about further delays.
Cathay has about US$10.66 billion (S$15.51 billion) of new plane orders with European aircraft manufacturer Airbus and Boeing.
Tyler said Cathay had no plans to further reduce capacity after making reductions earlier this year, and saw no signs of recovery in the business. -Reuters