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Cathay Pacific Set To Place $2B Order For Boeing 777-8F Freighter: Report

Cathay Pacific Airways Ltd (OTC: CPCAY) reportedly plans to renew a portion of its fleet of dedicated 747 cargo jets.
byAkanksha Bakshi
May 30, 2023
1 minute read
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  • Cathay Pacific Airways Ltd (OTC:CPCAY) reportedly plans to renew a portion of its fleet of dedicated 747 cargo jets.
  • Cathay Pacific is close to placing an order worth around $2 billion for Boeing Co (NYSE:BA) 777-8F freighters as it embarks on the partial renewal of a fleet of dedicated 747 cargo jets, reported Reuters, citing industry sources.
  • The decision comes after a hard-fought struggle for Cathay Pacific, which was weighing the all-freight version of the future Boeing 777X jet family against a forthcoming cargo model of the existing Airbus SE (OTC:EADSY) A350, added the report.
  • Also Read: Boeing’s Battle With 200 – Is The Sky’s Limit On The Horizon Or Is There Turbulence Looming Ahead?
  • “We continue to invest in and grow our fleet with the addition of new, state-of-the-art, and fuel-efficient aircraft,” stated a Cathay spokesperson via email to Reuters.
  • “At this time, we have no specific updates or announcements to make regarding the fleet,” added the spokesperson.
  • Price Action: BA shares are trading higher by 0.19% at $204.01 premarket on Tuesday. CPCAY closed higher by 0.86% at $4.69 on Friday.
 
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Israeli ‘Cannabis Sticks’ Maker Reports Financial Results For 2023 Following Reverse Takeover

By Jelena Martinovic
April 8, 12:29 PM
Israeli technology and cannabinoid company StickIt Technologies announced on Monday its financial results for the year ended Dec. 31, 2023. Revenue for the fiscal 2023 amounted to CA$203 000 ($149,300), compared to CA$564 000, in the prior year. The company called 2023 a "notable year" following the "completion of a reverse takeover on Oct. 23, 2023, positioning StickIt for accelerated growth and market expansion." Simultaneously the company completed a financing of CA$441,000, consisting of 1,024,628 subscription receipts for CA$0.4304 each, which were converted on a 1:1 basis into the company's common shares.StickIt, the developer exclusivity and patent protected of "Cannabis Sticks," debuted on the Canadian Securities Exchange (CSE), in the same month.

CSE:STKT