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Cathay Dragon eyes HK$30 billion order of aircraft, raising fleet investment by 50 per cent
Cathay Pacific subsidiary eyes up to 32 new planes in what would be largest order since 2000
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Cathay Dragon is pumping an additional HK$10 billion into its programme to buy aircraft, bringing the total investment up to HK$30 billion as it seeks up to 32 new Airbus or Boeing planes.
The Asia-focused airline is seeking up to nine optional aircraft orders to be delivered ahead of the opening of the third runway at Hong Kong International Airport in 2024. The move by Cathay Dragon follows its initial HK$20 billion programme to replace its narrow-body aircraft.
Meanwhile, its sister airline, Cathay Pacific Airways, said it was committed to investing for its passengers in the face of a HK$575 million loss last year. It is seeking HK$4 billion in savings in the next three years.
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Extra money is being aimed at giving Cathay Pacific’s older lounges a fresh makeover. The lounges have brought global awards to the airline, one of Asia’s largest premium carriers.
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Cathay Pacific lounges in Shanghai, Beijing and Seoul are set to be renovated by 2019, while a new facility in Singapore and the latest Hong Kong airport lounge makeover are due to be unveiled later this year.
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