WRAPUP 1-Cathay seeks to delay Boeing deliveries, cut costs

viernes 28 de noviembre de 2008 11:52 CET

* Cathay looking to delay deliveries on Boeing orders

* Cathay defers new cargo terminal, offers unpaid leave

* China to ask airlines to delay aircraft deliveries - report

By Joanne Chiu

HONG KONG, Nov 28 (Reuters) - Cathay Pacific (0293.HK: Cotización) said on Friday it plans to delay the delivery of its Boeing (BA.N: Cotización) aircraft, with list prices of about $9.5 billion, while Bejing was reportedly considering asking its airlines to request similar delays as the global crisis hits the region's carriers.

Cathay Pacific said it would also defer construction of a new cargo terminal in Hong Kong and ask its cabin crews to take unpaid leave as it seeks to cut costs in the face of shrivelling demand.

An unprecedented financial market meltdown hurt consumer sentiment, deepening the woes of airlines which have already suffered from volatile fuel costs.

"This is a very difficult time for our airline and for the aviation industry as a whole, and we cannot see light at the end of the tunnel at this point," Chief Executive Tony Tyler told reporters on Friday.

Under Cathay Pacific's original schedule, the Hong Kong-based airline has orders for about 35 Boeing and will take delivery of around 10 each year in 2009, 2010 and 2011.   Continuación...