Subscribe free to our newsletters via your
. 24/7 Space News .




AEROSPACE
China Southern Airlines unit buys six Boeing 787s
by Staff Writers
Hong Kong (AFP) May 11, 2011


China Southern Airlines said its Xiamen Airlines unit has bought six 787 Dreamliners from Boeing, as the country's carriers boost their fleets to meet soaring demand.

The order, worth around $1.1 billion at list prices, will provide a fillip to Boeing, whose Dreamliner was heralded as the first of a new generation of fuel efficient planes but has been beset by production and delivery delays.

It is also further evidence of the pace at which airlines in China are having to move to keep up with demand in a fast-growing market and comes on the heels of a 17-fold increase in profit for China Southern.

The planes are due to be delivered between 2014 and 2015, and will boost Xiamen Airlines' fleet, which already stands at 71 Boeing jets on 150 domestic and regional routes, according to its website.

Boeing has struggled to fulfil the early promise of the mid-sized Dreamliner, whose heavy reliance on composite material and diverse manufacturing sites have complicated production.

The company first promised to begin deliveries to the 787's launch customer -- Japan's All Nippon Airways -- in 2008 but that has now been delayed until later this year.

The deal comes less than two months after China Southern, which owns 60 percent of Xiamen Airline, said its 2010 profit rocketed as demand for air travel booms in China with the carrier's passenger numbers rising 15.4 percent to 76.46 million.

A total of 267 million air passenger trips were recorded in the country in 2010, up 15.8 percent from the previous year, official figures showed, reflecting growing prosperity among the country's booming middle class.

China Southern has been ramping up its own fleet to meet that demand, saying in November that it had agreed to buy 36 planes from Airbus for $3.78 billion, while rival Air China said in March it would buy five of Boeing's new 747-8 passenger planes with a combined list price of $1.54 billion.

Also in March, Boeing said Hong Kong Airlines had placed a preliminary order for 38 planes worth up to $8.5 billion at list prices.

Last year, Hong Kong-based Cathay Pacific said it had confirmed an order for 30 long-range A350 Airbus aircraft with a book price of $7.82 billion -- the biggest single order in the carrier's history.

The head of China's civil aviation administration has said China will have about 5,000 aircraft transporting passengers and cargo by 2015, almost double the number presently being used.

China Southern did not reveal the actual price of the planes in the deal, but said in a statement it would be paying an amount "significantly lower" than the list price.

"The aggregate consideration for the acquisition will be partly payable by cash... and partly by financing arrangements with banking institutions," China Southern added.

Hong Kong-listed shares in China Southern closed about 2.6 percent lower at HK$4.14 (53 US cents) on Wednesday.

.


Related Links
Aerospace News at SpaceMart.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








AEROSPACE
Korean Air to spend $1.58 billion on passenger jets
Seoul (AFP) May 3, 2011
South Korea's flag carrier Korean Air said Tuesday it would buy a total of seven passenger planes from Airbus and Boeing for nearly $1.58 billion. The airline said the planes - five Airbus A330-200s and two Boeing B777-300ERs - would cost 1.685 trillion won ($1.577 billion) and be bought between May 2011 and September 2015. Airbus, the airliner manufacturing subsidiary of European aer ... read more


AEROSPACE
Space Adventures proposes modified Soyuz TMA for Lunar tourists

BRP To Contribute To Canadian Moon And Mars Exploration Programs

Naveen Jain Co-Founder And Chairman Of Moon Express

Project Morpheus To Begin Testing At NASA's Johnson Space Center

AEROSPACE
Mars Express Sees Deep Fractures on Mars

Opportunity Images Small Craters

Exploring Rio Tinto Eurobotically

NASA Orbiter Reveals Big Changes in Mars' Atmosphere

AEROSPACE
AFIT education paves way to space

Soyuz launch from Europe space base set for October

NASA, Space Community Remember 'Freedom 7'

NASA Selects 'Whipple' Mission for Technology Development

AEROSPACE
Top Chinese scientists honored with naming of minor planets

China sees smooth preparation for launch of unmanned module

China to attempt first space rendezvous

Countdown begins for Chineses space station program

AEROSPACE
ISS orbit to be readjusted for Soyuz TMA-20 return

Soyuz is in the launch zone at Europe's Spaceport

Progress Docks To ISS

Russia ferries supplies to space

AEROSPACE
ST-2's installation on SYLDA marks the start of final payload integration for Ariane 5's next mission

Arianespace to launch ABS-2 in 2013

GSAT-8 put through its paces

Ariane Ariane 5 enjoys second successful launch for 2011

AEROSPACE
What a scorcher: 'Hot Jupiter' puzzle explained

An Earth as Dense as Lead

Astronomers unveil portrait of 'super-exotic super-Earth'

Tuning Into ExoPlanet Radio

AEROSPACE
Google notebooks challenge Microsoft

Broadband Lidar Instrument Successfully Tested on NASA's DC-8

Russia says fire put out near radioactive facility

Northrop Grumman Scalable SIRU Guides MESSENGER Spacecraft to Orbit Mercury




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement