China Eastern Airlines to buy 20 Airbus A320 jets
SHANGHAI – Financially struggling China Eastern Airlines says it plans to buy 20 Airbus A320 jets following an agreement last week with the European aircraft maker.
The purchase will cost about $1.45 billion, based on 2008 catalog prices, Shanghai-based China Eastern said in an announcement late Wednesday to the Hong Kong Stock Exchange.
It said China Eastern, one of China’s three big state-owned carriers, gained what it called “fair and reasonable” price concessions in its negotiations with Airbus SAS.
The purchase was made under the assumption that the airline will “have steady and organic growth over the next few years … when the global economy recovers,” it said.
China Daily – 18th June
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