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| , purchased a total of nearly 300 A320NEO aircraft from Airbus .
Air China (601111.SH) announced that Air China and its wholly-owned subsidiary Air China Import and Export Company and Airbus signed an Air China purchase agreement on July 1, 2022, to purchase 64 Airbus A320NEO series aircraft from Airbus; Air China's holding subsidiary The company Shenzhen Airlines signed a Shenzhen Airlines purchase agreement with Airbus on July 1, 2022, to purchase 32 Airbus A320NEO series aircraft from Airbus.
China Eastern Airlines (600115.SH) stated that it signed an "Agreement to Purchase 100 A320NEO Series Aircraft" with Airbus in Shanghai, China, on July 1, 2022, and purchased 100 A320NEO series aircraft from Airbus. China Eastern Airlines is also the one that purchased the largest number of aircraft among the three major airlines.
China Southern Airlines (600029.SH) announced that the company signed an agreement with Airbus on July 1, 2022 to purchase 96 A320NEO series aircraft from Airbus.
In terms of price, Air China revealed that the basic price of each aircraft includes the price of the fuselage, additional parts and engines. The total basic price of 96 Airbus A320NEO aircraft is approximately US$12.213 billion (price in January 2020).
China Eastern Airlines mentioned that the total basic price of the 100 A320NEO series aircraft purchased this time is approximately US$12.796 billion (open market quotation, catalog price in January 2020), as announced by the People's Bank of China on the day when this transaction agreement was signed. Calculated based on the central parity rate of RMB against the US dollar exchange rate (1 US dollar to 6.7035 yuan), it is approximately 85.778 billion yuan.
However, the three major airlines have stated that Airbus will provide a larger discount in the actual transaction, and the actual price of purchasing the aircraft will be lower than the above-mentioned basic price.
The relatively favorable purchase price is also one of the main factors why the three major airlines focus on purchasing new aircraft. China Southern pointed out in the announcement that after a comprehensive assessment by the company, it is now a favorable window period for aircraft introduction negotiations. The company can use the current opportunity to strive for better purchase conditions. This aircraft transaction will also help enhance the company's market competition.
China Eastern Airlines also said that while the aviation market has not fully recovered, the introduction of aircraft will help to strive for better business conditions. The company has obtained better conditions than before in terms of aircraft prices and other business terms. Li Hanming, a civil aviation data analyst at
, told Jiemian News that under the background of the epidemic, the number of civil aircraft orders from aircraft manufacturers has dropped significantly compared with normal years, and some original aircraft orders have been cancelled. Aircraft manufacturers have increased their inventory of aircraft, and sales have been low. If the situation is smooth, a larger discount will be given on the price. Airlines will have more bargaining power when purchasing new aircraft at this point.
Interface News reporter learned that the three major airlines issued intensive announcements on the purchase of aircraft on the first day of July, which may be related to the adjustment of the airlines' financial statements. Because the civil aviation industry was dismal and generally suffered serious losses in the first half of this year, the purchase of aircraft is a major capital expenditure that will increase the airline's debt scale. This major expenditure will be placed in the second half of the year to avoid putting greater pressure on the performance of the first half of the year. In terms of the source of funds for
aircraft purchase, Air China said that the company and Shenzhen Airlines will provide funds for this transaction with their own funds, commercial bank loans and other financing methods respectively. It is expected that the transaction will not have an impact on the cash flow of of the company and Shenzhen Airlines. status or business operations pose any significant impact. China Southern Airlines plans to provide funds for the purchase of 96 A320NEO series aircraft through business operations, commercial bank loans or other financing methods.
China Eastern Airlines is similar. It plans to fund this transaction through its own funds, commercial bank loans, bonds issued and other financing instruments . The transaction consideration will be paid in installments and is not expected to have an impact on the company's cash flow status and business. significant impact on operations.
The aircraft purchased by the three major airlines this time are all Airbus A320NEOs. The A320NEO series aircraft are the latest generation of narrow-body aircraft models from Airbus and are also a relatively mainstream narrow-body aircraft operated by domestic airlines. Due to the sharp drop in air travel demand since the epidemic, the utilization rate of narrow-body aircraft is significantly higher than that of wide-body aircraft.
Flightaware data shows that as of today, there are 13,450 flights worldwide, of which 8,772 are commercial airline flights, and the most frequently flown aircraft is the Airbus A320.
China Eastern Airlines clearly stated in the announcement that after the introduction of this aircraft, it will mainly be put into the domestic trunk network market to increase high-yield routes and develop potential markets. In the future, some aircraft will also be used to fly to Japan, South Korea, Southeast Asia and other surrounding international routes. , which will help the company optimize its route network and improve its overall route revenue.
The delivery time of new aircraft purchased by the three major airlines will start in 2023. Air China stated that the aircraft it intends to purchase are scheduled to be delivered in batches from 2023 to 2027; the aforementioned aircraft planned to be purchased by Shenzhen Airlines are scheduled to be delivered in batches from 2024 to 2026.
The 96 A320NEO series aircraft purchased by China Southern Airlines are scheduled to be delivered in batches from 2024 to 2027, including 30 aircraft in 2024, 40 aircraft in 2025, 19 aircraft in 2026, and 7 aircraft in 2027.
The 100 A320NEO series aircraft purchased by China Eastern Airlines are scheduled to be delivered in batches from 2024 to 2027. Among them, 28 are planned to be delivered in 2024, 31 are planned to be delivered in 2025, 34 are planned to be delivered in 2026, and 7 are planned to be delivered in 2027.
The new aircraft introduced by the three major airlines will replace some of the old aircraft to keep the airline fleet younger.
Air China stated that this transaction will increase the group’s capacity by approximately 10.4%. The introduction of new aircraft will be concentrated after 2024, partly to meet the replacement needs of the old aircraft in the fleet, and the actual net increase rate will remain within a controllable range. The Group expects that this transaction will make the Group's operating costs more competitive in the market, while also helping to provide passengers with high-level services that are safe and comfortable.
China Eastern Airlines said that based on its confidence in the future development of the civil aviation industry, the company needs to plan and reserve fleet capacity in advance. During the delivery period of this introduced aircraft, some of the company's existing narrow-body aircraft will be due to older aircraft and expiration of leases. will be withdrawn one after another, so the 100 aircraft purchased by the company this time will partly serve as a replacement and update for the existing models.
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