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China Southern says to buy Airbus aircraft for $2.3 billion

People are silhouetted past a logo of the Airbus Group during the Airbus annual news conference in Colomiers, near Toulouse January 13, 2015. REUTERS/Regis Duvignau

BEIJING (Reuters) - China Southern Airlines Co 600029.SS has signed deals worth about $2.3 billion to buy 10 aircrafts from Airbus Group SE <AIR .PA>, the carrier said on Wednesday.

China Southern, the country’s largest airline by fleet size, has agreed to purchase 10 Airbus A330-300 airplanes, each with a list price of $227.36 million, it said in a stock exchange filing.

The planes will be delivered between 2017 and 2019 and increase the airline’s capacity by 4 percent. The purchase will be funded by cash and financing arrangements with banks, the filing added.

The purchase will help the airline expand its fleet and increase its competitiveness amid a boom in air travel in China. Earlier this month, China Southern said it and affiliate Xiamen Airlines had signed $10 billion deals to buy 110 Boeing Co BA.N aircraft.

Reporting By Shu Zhang and Matthew Miller; Editing by Miral Fahmy

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