Air China, China Southern approved for airplane loans
Updated: 2012-02-06 16:13
(chinadaily.com.cn)
|
|||||||||||
The National Development and Reform Commission (NDRC), China's top economic planner, over the last weekend approved Air China Limited and China Southern Airlines Co's application to buy airplanes on international commercial loans, the Beijing Times reported Monday.
According to the NDRC's statement, Air China was approved to borrow $1.96 billion for purchasing 28 airplanes. It also gave a green light to China Southern to borrow $954 million for buying 14 craft.
The Air Transport Association predicted the aviation industry would continue to worsen in 2012. The gloomy market is considered by industry insiders as a good time to purchase airplanes.
It takes three to five years from placing an order to delivering the airplanes, so it is uncertain if the market will be out of the downturn by then, the report said.
Related Stories
Air China launches Chengdu-Kuerle flights 2011-07-19 16:46
South China protestors' complaints 'valid' 2011-12-31 04:06
China Southern heads south on new international routes 2011-10-11 07:56
China Southern Airlines makes debut flight to Vancouver 2011-06-16 15:33
- DBS launches local subsidiary in Taiwan
- China may become EU's biggest market
- Funding guaranteed for affordable housing
- CNPC operates 16m cubic metre fuel storage
- City to relocate smelting plants after toxic spill
- Central Huijin plans for banks to cut dividend ratios
- China bans airlines into EU carbon scheme
- Work safety highlighted before leadership transition
