=20 ---------------------------------------------------------------------- This article was sent to you by someone who found it on SF Gate. The original article can be found on SFGate.com here: http://www.sfgate.com/cgi-bin/article.cgi?file=3D/news/archive/2002/04/26/f= inancial1304EDT0144.DTL ---------------------------------------------------------------------- Friday, April 26, 2002 (AP) Cathay Pacific orders three jets each from Boeing, Airbus DIRK BEVERIDGE, AP Business Writer (04-26) 10:04 PDT HONG KONG (AP) -- Betting that commercial air traffic will gradually recover from the terrorism crisis, Cathay Pacific Airways said Friday it ordered six new jets -- three each from planemaking rivals Boeing and Airbus. Cathay said the Boeing 777-300s and Airbus A330-300s will be delivered in 2003 and 2004 -- at which point the carrier believes it will have weathered the aftermath of the Sept. 11 attacks that threw the global aviation industry into its worst slump in more than a decade. Cathay did not disclose what it's paying, but Boeing said the list price for three 777-300s was about $600 million. Airlines typically negotiate better prices than the list. The jets will be used on short- and medium-haul routes in the Asia-Pacif= ic region, Cathay spokeswoman Lisa Wong said. The jets from U.S.-based Boeing are slightly bigger, able to carry up to 382 passengers compared to the European Airbus jets that will hold up to 311 people. Cathay said it might need to hire up to 800 new staff over the next three years to handle the increased operations from the new jets. Like other airlines, Cathay was hit hard by the terrorism crisis. It now has five passenger jets and two cargo jets sitting idle. Cathay said it plans to put four of the passenger jets and one of the freighters back into service later this year as business picks up. "Because Cathay Pacific managed itself carefully during the downturn, we are now able to plan for a better future," chief executive David Turnbull said. "Bear in mind that although today's market is weak and it is still too early to pronounce a full recovery, these aircraft will not be delivered for two years." Cathay now has 75 aircraft in its fleet, with three Airbus A430-600s due for delivery this year or next. The world's airlines suffered huge losses after terrorists hijacked four jetliners on Sept. 11, using two to destroy New York's World Trade Center and crashing one into the Pentagon. Although traffic has been picking up, industry executives complain prices remain weak due to intense competition in luring passengers back. The orders from Cathay are welcome news for Boeing and Airbus, which did not announce a single sale at Asia's biggest air show, held recently in Singapore. =20 ---------------------------------------------------------------------- Copyright 2002 AP