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20-Jul-2010 12:26 PM

Air China and China Eastern select engines at Farnborough

Analysis

Air China has signed an agreement for CFM56-5B engines to power 20 firm A320 orders to be delivered from 2011.

In addition to the 20 A320s announced today, Air China's current fleet includes 55 A320 and 118 B737 family aircraft powered by CFM56-5B and CFM56-3/7B engines, respectively, as well as six A340-300 aircraft powered by the CFM56-5C.

China Eastern Airlines meanwhile selected CFM56-5B engines to power 30 new Airbus A320 family aircraft to be delivered from Mar-2011.

Shares in Air China and China Eastern fell 3.2% and 1.1% in Hong Kong yesterday, respectively, but rose in Shanghai trade. The benchmark Shanghai Composite Index soared 2.1% on expectations of a stronger yuan, which will help lower Chinese airline fuel and aircraft costs.

Asia Pacific selected airlines daily share price movements (% change): 19-Jul-2010


Source: Centre for Asia Pacific Aviation, Reuters & Financial Times

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