Air China Plans to Take Loan for Expanding Fleet
February 7, 2008
Air China plans to expand its fleet by borrowing at least $750 million. It would add 24 planes to its fleet in 2008, according to company spokeswoman Rao Xinyu.
According to reports, Ms Xinyu said that the planes were part of orders placed with Airbus and Boeing.
She said: “We will seek more financing later this year to fund the fleet expansion.”
Bloomberg has reported that the carrier took $750 million loan in 2006 to buy 14 planes from Boeing and Airbus. Air China’s rival China Eastern Airlines received $635 million in loans in 2007 to buy planes, while China Southern Airlines got $196 million, the report added.