Air China buys 20 Airbus planes

PUBLISHED : Friday, 19 November, 2010, 12:00am
UPDATED : Friday, 19 November, 2010, 12:00am


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Air China Limited yesterday announced it has bought 10 A330 aircraft and 10 A350s from Airbus. The total initial price mentioned was US$4.49 billion but negotiations are going on for a discount. The money is to be paid by cash in instalments. The transaction will be funded by bank loans and other capital-raising tools, and will not have a major impact on Air China's cash flow and operations, the airline said. The delivery of the first 10 aircraft will be made between 2013 and 2015 while the other 10 between 2018 and 2020. The acquisition is expected to expand Air China's fleet capacity by 18.6 per cent.