Hong Kong’s Cathay Pacific to sell six Boeing jets to BOC Aviation

Hong Kong’s Cathay Pacific Airways on Monday said it would sell six Boeing 777-300ER aircraft and its associated equipment for $703.8 million to BOC Aviation.

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 aircraft back from BOC Aviation. Reuters.com