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Cathay Pacific shores up cash position with jet delivery delay

Hong Kong flagship carrier reports halving of revenue and liquid funds

HONG KONG -- Cathay Pacific Airways' move to delay delivery of new aircraft should further help alleviate the cash squeeze on Hong Kong's flagship carrier as it struggles to rebuild ticket sales, analysts say.

In a prospectus for a shareholder rights issue filed Wednesday, the airline disclosed that it had reached agreement with Airbus to defer delivery of an unspecified number of A350-900, A350-1000 and A321-200neo planes it was to receive this year and next. It said it was also in talks with Boeing to push back some B777-9 orders.

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