Streetbeat News

CPCAY

Cathay Pacific Airways Ltd.

https://www.cathaypacific.com/

CEO

Kin Wing Tang

Industry

Other Support Activities for Air Transportation

Open

5.50

Mkt cap

7.2B

Volume

4.5K

High

5.60

P/E Ratio

7.33

52-wk high

5.89

Low

5.50

Div yield

0.01

52-wk low

4.81

Airlines, including Delta Air Lines, are conducting inspections of their Airbus A350 fleets following an engine issue identified by Cathay Pacific. The issue affects A350-1000 models with Rolls-Royce engines, but not the A350-900 model operated by Delta. The European Union Aviation Safety Agency has issued a directive for inspections. Delta emphasizes its commitment to safety.

Portfolio Pulse from Nabaparna Bhattacharya

September 06, 2024 | 2:41 pm

Cathay Pacific's A350 fleet faced an engine issue, prompting Airbus and Rolls-Royce to address the situation. While no global inspections are currently advised, the final decision lies with regulators. Airlines like Singapore Airlines and Japan Airlines are conducting precautionary checks. The incident involved a fuel leak in a Rolls-Royce engine, and Cathay Pacific plans to resume operations after repairs.

Portfolio Pulse from Nabaparna Bhattacharya

September 05, 2024 | 1:02 pm

Cathay Pacific Airways Ltd has announced the purchase of 6 A350F aircraft from Airbus SE for $2.71 billion, with deliveries expected by the end of 2029. The deal also includes an option to buy 20 more A350 freighters. This move will enhance Cathay Pacific's fleet capacity, focusing on long-haul routes to North and South America, and Europe. The new Airbus aircraft will start being delivered in 2027, signaling a shift away from Cathay's current Boeing 747 freighter fleet. In a separate deal in September, Cathay doubled its orders for the Airbus A320neo Family to 64 aircraft for $4.66 billion. CPCAY shares saw a slight increase of 0.51% to close at $4.93 on Thursday.

Portfolio Pulse from Lekha Gupta

December 08, 2023 | 1:28 pm

Airbus SE has received an order worth $4.66 billion from Hong Kong's Cathay Pacific Airways for an additional 32 Airbus A320neo Family aircraft. This doubles Cathay's total orders for the A320neo Family to 64, with 13 already delivered. The new aircraft are expected to be delivered by the end of 2029 and will serve routes connecting the Chinese mainland and various Asian destinations.

Portfolio Pulse from Nabaparna Bhattacharya

September 30, 2023 | 3:58 pm

China's property market turmoil continues to impact the stock market, with Country Garden Holdings and China Evergrande Group seeing declines. However, Sunac China Holdings managed to restructure its debt and saw a 1% increase. The Chinese government is planning to attract more investors by raising the foreign ownership cap on stocks and encouraging domestic travel to boost the economy. Despite the property market issues, investment managers are attracted to deep discounts in the consumer and tech sector in China, with stocks such as Alibaba, Baidu, and BYD Company Limited gaining attention.

Portfolio Pulse from Daniel Harrison

September 28, 2023 | 1:40 pm

Cathay Pacific Airways is reportedly close to placing a $2 billion order for Boeing 777-8F freighters as part of its fleet renewal plan. The airline was considering the Boeing 777X jet family against Airbus' forthcoming A350 cargo model.

Portfolio Pulse from Akanksha Bakshi

May 30, 2023 | 12:46 pm

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