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




AEROSPACE
China's Spring to buy 21 Airbus planes for $2.04 bn
by Staff Writers
Shanghai July 21, 2015


Chinese budget carrier Spring Airlines said it plans to buy 21 Airbus A320 planes for 12.45 billion yuan ($2.04 billion), citing growth in both international and domestic air travel. The Shanghai-listed company intends to fund the purchase in part through a private placement of shares to raise 4.5 billion yuan, according to a statement to the exchange late Monday. The single-aisle A320 has a list price of $97 million, according to Airbus. "Demand in China's domestic and international aviation market is steadily increasing," Spring said in the statement. "The company intends to reasonably expand the scale of its fleet to increase its air transport capacity." Spring Airlines, headquartered in the Chinese commercial hub of Shanghai, was founded in 2005 and now flies more than 90 domestic and international routes, according to its website. Spring's shares, which had been suspended since June 26 owing to a rout on China's stock market, closed up 3.21 percent on Tuesday, reversing a 10 percent plunge in early trading. The company's net profit for the first quarter this year jumped 46.43 percent year-on-year to 254.32 million yuan. China, the world's second-largest economy, is already Asia's biggest aircraft buyer as a growing middle class takes to the skies in ever-increasing numbers. Last year, US aircraft giant Boeing forecast Chinese carriers will need nearly 6,000 new planes valued at $780 billion over the next 20 years, accounting for around 16 percent of world demand and nearly half of Asia's. But China hopes part of its vast aircraft market will go to a homegrown passenger plane -- the 168-seat C919 -- in a challenge to the global dominance of Boeing and Airbus. Chinese economic growth is also slowing and expected to soften further in coming years -- a trend industry officials say could put a dent in air travel. China's gross domestic product expanded 7.4 percent last year, the slowest since 1990. The country's GDP grew 7.0 percent year-on-year in the second quarter, matching the 7.0 percent expansion in the first three months of this year. bxs/slb/dan Boeing AIRBUS GROUP


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


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




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





AEROSPACE
Record-breaking Solar Impulse 2 grounded for 'several months'
Geneva (AFP) July 15, 2015
The sun-powered plane Solar Impulse 2 will be grounded for months in Hawaii to carry out battery repairs, after completing nearly half of an unprecedented round-the-world flight, the project said Wednesday. "Irreversible damage to certain parts of the batteries will require repairs which will take several months," it said in a statement. The team said last week that battery temperatures ... read more


AEROSPACE
Russia to Land Space Vessel on Moon's Polar Region in 2019

Moon engulfed in permanent, lopsided dust cloud

Crashing comets may explain mysterious lunar swirls

Google Lunar X-Prize meets Yoda

AEROSPACE
Curiosity rover finds evidence of Mars' primitive continental crust

Never Get Lost on Mars Again With NASA's New Red Planet Map

Opportunity Rover's 7th Mars Winter to Include New Study Area

Opportunity Gets Back to Work

AEROSPACE
NASA selects leading-edge concepts for continued study

US selects four astronauts for commercial flight

Docking Adapter Sets Stage for Commercial Crew Crew

Targeted LEDs could provide efficient lighting for plants grown in space

AEROSPACE
Chinese earth station is for exclusively scientific and civilian purposes

Cooperation in satellite technology put Belgium, China to forefront

China set to bolster space, polar security

China's super "eye" to speed up space rendezvous

AEROSPACE
Student satellite wins green light for Station deployment

'Jedi' astronauts say 'no fear' as they gear for ISS trip

Relief as Russian cargo ship docks at space station

Loss of SpaceX Cargo Resupply Mission No Threat to ISS Crew Security

AEROSPACE
30 launches planned in next three fiscals: ISRO chief

Baikonur Cosmodrome to Be Equipped With Viewing Platforms

India to launch its heaviest commercial mission to date

Final payload integration begins for next Ariane 5 launch

AEROSPACE
Bricks to build an Earth found in every planetary system

Observing the birth of a planet

Precise ages of largest number of stars hosting planets ever measured

Can Planets Be Rejuvenated Around Dead Stars?

AEROSPACE
First realization of invisible absorbers and sensors

'White graphene' structures can take the heat

Bringing back the magic in metamaterials

NATO orders deployable 3D air defense radars




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news 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 All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.