Arab Today, arab today chinas spring airlines to buy 60 airbus planes in 63bn deal
Last Updated : GMT 07:08:14
Arab Today, arab today
Arab Today, arab today

China's Spring Airlines to buy 60 Airbus planes in $6.3bn deal

Arab Today, arab today

Arab Today, arab today China's Spring Airlines to buy 60 Airbus planes in $6.3bn deal

Chinese budget carrier Spring Airlines plans to boost its fleet with 60 Airbus aircraft
Shanghai - AFP

Budget carrier Spring Airlines plans to buy 60 Airbus aircraft for $6.3 billion at list prices, it said Thursday, as a Chinese boom in air travel defies slowing economic growth.

China, the world's second-largest economy, is already Asia's biggest aircraft buyer as a growing middle class takes to the skies in ever-increasing numbers.

The Spring Airlines' order includes 45 A320 planes and 15 A321 aircraft from the European maker, all with the fuel-efficient new engine option, according to a statement to the Shanghai stock exchange.

The major plane order comes despite slowing growth in the Chinese economy, which aviation industry officials fear could hurt air travel.

China logged its worst economic performance since the global financial crisis in the third quarter, with gross domestic product rising just 6.9 percent -- its lowest level in six years.

The Shanghai-based airline said the deal, which was signed on Thursday, sets delivery of the planes from 2019 to 2023.

In July, Spring announced plans to buy 21 Airbus A320 planes for 12.45 billion yuan ($1.9 billion), citing growth in both international and domestic air travel, for delivery from 2015 to 2017.

US aircraft maker Boeing, a rival of Airbus, estimates China will add 6,330 new aircraft worth $950 billion to its commercial fleet by 2034.

Spring Airlines began operations in 2005 and flies more than 90 domestic and international routes, according to its website. Its Shanghai-listed stock closed up nearly five percent on Thursday, before the statement was released.

The Chinese government hopes some of the country's future aircraft market will go to its domestically produced C919, a narrow-body jet which will compete directly with the Airbus A320.

A prototype C919 rolled off the assembly line in Shanghai in November, but the first test flight is not expected until 2016 at the earliest, according to officials from its builder, the Commercial Aircraft Corp. of China (COMAC).

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today chinas spring airlines to buy 60 airbus planes in 63bn deal Arab Today, arab today chinas spring airlines to buy 60 airbus planes in 63bn deal

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives Algerian heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives Algerian heritage in jewelries
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday