Sunday, 25 November 2012

China Eastern Seals $5.4B Airbus Deal

China Eastern Airlines, one of the country's top three carriers, said it has agreed to buy 60 Airbus A320 aircraft for about USD$5.4 billion, expected to be delivered in stages from 2014 to 2017.
In a filing to the Hong Kong Exchange filed after markets closed on Friday, China Eastern also said it plans to fund the purchase with the company's working capital, commercial bank loans and other sources it didn't specify.
The new aircraft will help the airline satisfy rising demand for domestic medium- and short-haul passenger routes, it said in the statement. The deal is subject to approval by China Eastern's shareholders and regulators.

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