Hong Kong Airline Buys 6 Airbus A350 jets

Hong Kong's Cathay Pacific Airways says it's buying six Airbus A350-900 jets at a steep discount to the order's $1.63 billion list price.

HONG KONG (AP) -- Hong Kong's Cathay Pacific Airways says it's buying six Airbus A350-900 jets at a steep discount to the order's $1.63 billion list price.

The airline said Friday that it has negotiated "significant price concessions," which it did not disclose.

Hong Kong's dominant airline said the aircraft will be used to renew and expand the company's fleet for long-haul routes to Europe and will be delivered from 2016 to 2017. It will pay for the jets in eight installments.

The order comes days after European jet maker Airbus said that it notched up 1,419 net new orders worth $140 billion last year for new commercial aircraft, besting U.S. rival Boeing Co. in the race for orders for the fourth year running.

More in Economics