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China Southern announces agreement with Boeing for 10 777-300ERs

29-Feb-2012 8:05 AM

China Southern Airlines and Boeing announced (28-Feb-2012) an agreement for 10 777-300ERs, as the airline plans to expand its capacity to meet growing demand in the Asia Pacific and China. The aircraft are scheduled for delivery between 2013 and 2016 and are worth around USD3 billion at list prices, although the carrier will pay a "significantly lower" figure than the list price. The carrier said it will pay for the purchase through internal resources and commercial bank loans. The fleet additions will increase capacity (ATKs) of the group by 7.9% from 31-Dec-2011 levels (without taking into account the adjustment to be made by the company according to market conditions and age of the aircraft fleet). The agreement still requires Chinese Government approval. Once approval is attained, the order will be posted to Boeing's Orders & Deliveries Website. [more - original PR - Boeing] [more - original PR - China Southern Airlines]