China Eastern Airlines to purchase 20 A350-900s

China Eastern Airlines stated (28-Apr-2016) it would purchase 20 A350-900s valued at USD5.96 billion at list prices. The Airbus purchase is payable by cash in installments, and is, as currently contemplated, being funded through the company's working capital, bank loans from commercial banks, bonds issuance and other sources of financing available to the company. The Airbus aircraft are expected to be delivered to the Ccmpany in stages from 2018 to 2022, with two expected to be delivered in 2018, three in 2019, two in 2020, six in 2012 and the remaining seven in 2022. The company added: "Without considering the adjustments to be made to the aircraft fleet of the Company as a result of the market conditions and the age of the aircraft and based on the ATKs of the Company as at 31 December 2015, the Airbus Acquisition will increase the ATKs of the Company by approximately 1.89%, 2.83%, 1.89%, 5.67% and 6.61% for each of the five years from 2018 to 2022, respectively". [more - original PR]