China Bohai Leasing approves deal to buy 70 Airbus aircraft

BEIJING Mon Jul 21, 2014 9:32am EDT

BEIJING (Reuters) - The Hong Kong unit of China's Shenzhen-listed Bohai Leasing 000415.SZ has signed a deal worth about $7.76 billion to buy 70 A320 NEO aircrafts from Airbus Group (AIR.PA), the Chinese company announced on Monday.

Subsidiary Hong Kong Aviation Capital signed the agreement on July 17 and it was approved by a special meeting of its board of directors on the following day, Bohai Leasing said in a statement.

Shares in the Tianjin-based aircraft leasing firm were suspended pending the announcement, and will resume trading on Tuesday.

This month, BOC Aviation, the aircraft leasing arm of the Bank of China (601988.SS), ordered 43 planes from Airbus, including 36 A320 CEO and seven A320 NEO models.

(Reporting by David Stanway; editing by Jason Neely)