China Eastern Airlines entered (28-Dec-2009) into an agreement with Airbus regarding the purchase of 16 A330 series aircraft (with engines), for delivery in stages between 2011 and 2014. The airline stated it received “material price concessions” with regards to the aircraft, which have a list price of USD2.6 billion. The aircraft will primarily be used to satisfy increased long and medium haul route demand and will increase ATKs of the airline by 19.5% (without considering fleet retirements). The aircraft will be funded through bank loans from commercial banks. [more]
China Eastern Airlines: “The company confirms that the extent of the price concessions granted to the company under the Agreement is more favourable than the price concessions that the company had obtained under its previous agreement entered into in Oct-2004 with Airbus regarding the purchase of certain Airbus A330 series aircraft,” Company Statement, 28-Dec-2009.