Air China buys 20 aircraft to boost capacity
Air China says it will buy 20 Airbus 330 aircraft that carry a list price of US$3.82 billion. The aircraft, which will be bought at an undisclosed discount, are expected to be delivered between 2011 and 2014. The carrier says the aircraft will increase its fleet capacity by about 16.5 per cent, allowing it to add more flights. The company will finance the purchase with cash, commercial bank loans and other debt instruments. Shares in Air China closed unchanged at HK$4.16 yesterday before the deal was announced.