Cathay Pacific will sell six of its Boeing 777-300ER planes to BOC Aviation to help the airline amid the consequences of the COVID-19 outbreak.
The flag carrier of Hong Kong Hong announced on Monday, that six of its Boeing 777-300ER and all associated equipment will be sold to Aircraft leasing company BOC aviation
The deal is set to be worth $703.8 million dollars and the raise cash to be used towards general working capital requirements.
Airline reported significant losses in the last half year, and grounded more than half of its fleet.
Cathay currently operates 68 Boeing 777s, and lease back the aircraft if the air travel returns to normal.