China Eastern Airlines provided (30-Apr-2012) further information on plans to purchase 20 Boeing 777-300ER aircraft, valued at USD5.94 billion at list prices, and sell five A340-600 aircraft. The carrier expects delivery of the 777-300ER aircraft between 2014 and 2018. The airline will fund the acquisition using working capital, bank loans and other sources of financing. The carrier will sell the A340-600 aircraft, with an unaudited book value of around CNY4.47 billion (USD708 million) to Boeing, with delivery between 2014 and 2015. China Eastern said the A340-600 aircraft, which mainly serve long-haul international routes such as Shanghai-New York and Shanghai-Los Angeles and have an average age of 8.3 years, had "high operation costs and have relatively weak route competitiveness". China Eastern said the purchase of the Boeing aircraft and disposal of the Airbus aircraft would lower its unit operation costs and optimise the fleet structure for long-haul routes. Boeing spokesman Yukui Wang said the company has in the past bought jets made by other manufacturers and then sold them to other companies. [more - original PR]
China Eastern to purchase 777–300ER aircraft, to divest five A340-600s to Boeing
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"A truly remarkable lineup of airlines"; over 50 executives at CAPA's Airline Fleet & Finance Summit
CAPA’s Airline Fleet & Finance Summit will be attended by "A truly remarkable lineup of airlines" from all continents of the globe, represented by their senior finance officers.
First time attendees at the event include Air Tahiti, euroAtlantic Airways, Pakistan International Airlines, Saudia, TAAG and start-up flymojo.
They are joined by AirAsia's Group Head of Strategy, the Deputy Chief Executive Officer & Chief Financial Officer of Asia Aviation Capital Limited, the Vice President, Fleet & Corporate Finance of Allegiant, Cebu Pacific's Director, Corporate Finance & Investor Relations, China Eastern's General Manager of CEA International Financial Leasing Corporation Limited, KLM's Director Group Treasury, Malaysia Airlines' Group CEO, Finnair's CFO, IndiGo's Director - Aircraft Acquisition and Financing and many others.
Together with 15 stand-alone presentations from airline CFO/treasury/finance heads outlining their fleet and financing plans + over 50 airline representatives attending the unique CAPA Fleet Marketplace – the CAPA Airline Fleet & Finance Summit (2/3-Mar, Singapore) at Capella Sentosa is not to be missed.
The CAPA airline fleet quiz: 15 challenging questions. CAPA Summit Singapore 2/3 March
Test your knowledge of the global aircraft fleet with this CAPA Quiz. If you have access to the comprehensive CAPA Fleet Database, it should be a breeeeze.
Rank your result:
15/15 = Outstanding! – you should set up your very own aircraft leasing company.
13-14/15 = Excellent – your colleagues should say the word ‘wiki…’ in front of your first name around the office.
10-12/15 = Very good – someone should shout you several drinks at the next air finance gathering.
9 or below/15 = Time to brush up – you need to sign up for CAPA's Fleet Database immediately.
Visit http://capaevents.com/AFFS17 for the answers