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Air China says it is buying 20 Airbus planes to expand fleet by 20 percent
On Thursday November 18, 2010, 10:22 am
BEIJING (AP) -- Air China Ltd., one of China's three major state-owned airlines, announced Thursday it is buying 20 Airbus planes in a move to expand its fleet.
The airline said in a statement to the Hong Kong stock exchange that it has agreed to purchase 10 Airbus 330-series and 10 Airbus 350-series planes.
Air China said the aircraft have a total list price of $4.49 billion but that it got a substantial discount, though it did not disclose the actual price of the planes. Airlines typically negotiate bulk discounts.
The company said the purchase would increase its fleet by about 20 percent.
It said it expects to take delivery of the A330 planes between 2013 and 2015 and the A350 jets from 2018 to 2020.
The announcement came as several of Airbus' newest passenger planes -- the world's largest -- remained grounded while investigators studied what was behind the partial disintegration of an engine during a Qantas flight this month. The Rolls-Royce engine in the A380 sprung an oil leak and caught fire, setting off a series of failures before pilots made an emergency landing.
Online:
Air China Ltd.: http://www.airchina.com.cn/en/index.shtml
http://finance.yahoo.com/news/Air-China-sa...217282.html?x=0
On Thursday November 18, 2010, 10:22 am
BEIJING (AP) -- Air China Ltd., one of China's three major state-owned airlines, announced Thursday it is buying 20 Airbus planes in a move to expand its fleet.
The airline said in a statement to the Hong Kong stock exchange that it has agreed to purchase 10 Airbus 330-series and 10 Airbus 350-series planes.
Air China said the aircraft have a total list price of $4.49 billion but that it got a substantial discount, though it did not disclose the actual price of the planes. Airlines typically negotiate bulk discounts.
The company said the purchase would increase its fleet by about 20 percent.
It said it expects to take delivery of the A330 planes between 2013 and 2015 and the A350 jets from 2018 to 2020.
The announcement came as several of Airbus' newest passenger planes -- the world's largest -- remained grounded while investigators studied what was behind the partial disintegration of an engine during a Qantas flight this month. The Rolls-Royce engine in the A380 sprung an oil leak and caught fire, setting off a series of failures before pilots made an emergency landing.
Online:
Air China Ltd.: http://www.airchina.com.cn/en/index.shtml
http://finance.yahoo.com/news/Air-China-sa...217282.html?x=0
