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China Aircraft Leasing buys 50 Boeing aircraft for $5.8 billion

Reuters  |  HONG KONG 

(Reuters) - Aircraft Leasing Group Holdings Ltd <1848.HK> said it would buy 50 737MAX series aircraft from for an aggregate list price of $5.8 billion, to meet demand for more efficient aircraft while expanding its fleet portfolio.

The aircraft lessor's unit had agreed to buy the aircraft, in a deal to be settled from internal resources and loans and other borrowings, the company said in a filing to the bourse on Thursday.

Aircraft, which now owns and manages 87 aircraft, said the actual purchase price would be lower than the list price as would grant price concessions as per industry practice.

The aircraft will be delivered in stages up to 2023.

In April, Aircraft Leasing had agreed to buy aircraft from Airbus in a bid to match customer demand under dynamic market conditions.

(Reporting by Donny Kwok; Editing by Stephen Coates)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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