AIR CHINA OPTS FOR AIRBUS ORDER

Air China has announced it will buy 10 Airbus A330 and 10 Airbus A350 series aircraft. The $4.49 billion purchase will be paid for in cash instalments raised via by business operations, bank loans, and “other financing instruments. The basic price of the aircraft is about $4.49 billion, but Airbus has granted the airlines “significant price concessions” in the form of credit memoranda which may be used by Air China towards the final price of the aircraft or to buy goods and services from Airbus. The A330s will be delivered in stages from 2013 to 2015 and the A350s from