December 29, 2017 / 1:02 AM / 10 months ago

China Aircraft Leasing buys 50 Airbus A320neo series for $5.4 billion

HONG KONG (Reuters) - China Aircraft Leasing Group Holdings Ltd (1848.HK) said it will buy 50 Airbus SE (AIR.PA) A320neo aircraft for an aggregate list price of $5.42 billion, as it expands its fleet to strengthen its position as a full-value chain aircraft solutions provider.

The new Airbus U.S. Manufacturing Facility in Mobile, Alabama September 13, 2015. REUTERS/Michael Spooneybarger

A subsidiary has agreed to the purchase in a deal to be settled using internal resources, loans and other borrowings, China Aircraft Leasing said in a filing to the Hong Kong stock exchange on Friday.

China Aircraft Leasing, which currently owns and manages 107 aircraft, said the actual purchase price would be lower than the list price as Airbus is likely to grant price concessions as per industry practice.

The aircraft will be delivered in stages through 2023.

The company said its total order book would rise to 252 aircraft, comprising 202 from Airbus and 50 from Boeing Co (BA.N).

Reporting by Donny Kwok; Editing by Christopher Cushing

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