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China Eastern makes Airbus order
China Eastern is one of China's top three carriers
State-controlled China Eastern Airlines has ordered 20 Airbus A320 aircraft despite having announced drastic cost-cutting plans earlier in the year.
The new aircraft ordered have a list price of $1.45bn (£884m) and are to be delivered between 2011 and 2013.
Earlier this year the airline postponed or cancelled half of the 29 plane deliveries it had expected in 2009.
Its shares have been suspended since 8 June as it finalises a tie-up with its local rival Shanghai Airlines.
The merger is supposed to reduce their reliance on state aid.
China Eastern chairman Liu Shaoyong has said that details of the merger plan will be released in the next few weeks.
China Eastern has received 8bn yuan ($1.2bn; £714m) in government bail-outs in the current downturn.
But the airline said it had ordered that aeroplanes on the assumption that it would "have steady and organic growth over the next few years... when the economy recovers".
There were suggestions at the Paris Air Show that the planes were an allocation from a previous order by the Chinese government procurement agency CASGC and not a new order.
Nonetheless, Airbus has secured a number of deals at the show, with Hungary's budget carrier Wizz Air signing a memorandum of understanding on Thursday for 50 A320 aeroplanes with a list price of $3.8bn.
Air Asia has ordered 10 A350 jets, Qatar Airways has signed up for 24 A320s and there have also been orders from Vietnam Airlines and Cebu Pacific.
Source
China Eastern is one of China's top three carriers
State-controlled China Eastern Airlines has ordered 20 Airbus A320 aircraft despite having announced drastic cost-cutting plans earlier in the year.
The new aircraft ordered have a list price of $1.45bn (£884m) and are to be delivered between 2011 and 2013.
Earlier this year the airline postponed or cancelled half of the 29 plane deliveries it had expected in 2009.
Its shares have been suspended since 8 June as it finalises a tie-up with its local rival Shanghai Airlines.
The merger is supposed to reduce their reliance on state aid.
China Eastern chairman Liu Shaoyong has said that details of the merger plan will be released in the next few weeks.
China Eastern has received 8bn yuan ($1.2bn; £714m) in government bail-outs in the current downturn.
But the airline said it had ordered that aeroplanes on the assumption that it would "have steady and organic growth over the next few years... when the economy recovers".
There were suggestions at the Paris Air Show that the planes were an allocation from a previous order by the Chinese government procurement agency CASGC and not a new order.
Nonetheless, Airbus has secured a number of deals at the show, with Hungary's budget carrier Wizz Air signing a memorandum of understanding on Thursday for 50 A320 aeroplanes with a list price of $3.8bn.
Air Asia has ordered 10 A350 jets, Qatar Airways has signed up for 24 A320s and there have also been orders from Vietnam Airlines and Cebu Pacific.
Source