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China Southern Seals Airbus A330 Deal

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China Southern Airlines, the country's largest carrier by fleet size, has agreed to buy 10 Airbus A330-300 aircraft for about USD$1.9 billion, to be delivered from 2014 to 2016.

The deal is the second involving Airbus and a Chinese airline since the European Union agreed on November 12 to "stop the clock" on plans to force non-EU airlines to adopt its Emissions Trading Scheme (ETS).

China Eastern Airlines, one of the country's top three carriers, said in late November it had agreed to buy 60 Airbus A320s for about USD$5.4 billion.

Chinese airlines have been buying aircraft from Airbus and rival Boeing over the past few years as more Chinese travel.

China Southern said in a statement that the new aircraft would be funded through internal resources and loans from commercial banks and that the list price of an Airbus A330-300 aircraft was USD$188 million, though airlines usually pay a lower price.

(Reuters)