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Source: China Knowledge China Knowledge

China Southern Airlines to buy 20 Airbus A320

Published: 20 Jan 2010 22:58:41 PST

Jan. 21, 2010 (China Knowledge) - China Southern Airlines Co<600029><1055><ZNH>, the country's largest air carrier by fleet size, said on Wednesday that it has agreed to buy 20 Airbus A320 aircraft at a catalogue price of US$76.9 million per unit, sources reported.

China Southern Airlines will pay with cash and bank loans to buy the 20 aircraft, which will be delivered between 2011 and 2013.

Once all the aircraft have been delivered, the airline's available ton kilometers are expected to increase 4.5% from the end of last December.

China Southern said in a separate statement that its 2009 results may improve remarkably from a year earlier because of lower fuel costs. The growth is also supported by a gradual recovery in demand for aviation and transportation services.

The company posted a net loss of RMB 482.9 million for 2008.


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