A Hainan Airlines Airbus A330-300 seen at Guangzhou Baiyun International Airport. CHINA DAILY
Chinese airlines have announced orders for nearly 500 Airbus aircraft over the past seven months, underscoring the industry's confidence in long-term travel demand even as high fuel prices and external volatility weigh on near-term earnings.
Last week, Air China, its subsidiary Shenzhen Airlines, alongside Hainan Airlines, announced agreements to purchase a combined 95 Airbus aircraft with a catalog value of about $17.8 billion, adding to a series of large Airbus orders by Chinese carriers earlier this year.
Combined with earlier purchases by China Southern Airlines, Xiamen Airlines and China Eastern Airlines, domestic carriers have announced orders for 476 aircraft from the European manufacturer since the end of last year, according to company filings.
The buying spree persists despite warnings from major airlines including Air China, China Southern Airlines and China Eastern Airlines of substantial first-half losses as rising operational costs erased their first-quarter profits.
