Civil aviation sector primed for further expansion
China’s civil aviation sector has made great strides in the past five years, and further improvements are expected in the next five years. Li Xiaojin, a professor from the College of Economics and Management at the Civil Aviation University of China in Tianjin, said the sector’s accomplishments in safety, scale and production volume “match China’s status as the world’s second-largest economy”.
China’s Domestic Traffic Approaches 2019 Levels
China’s airlines continue to witness a strong uptick in local demand after domestic traffic rose to 47.75 million in September, representing 98% of passenger volume compared with the same month a year earlier, the Civil Aviation Administration of China (CAAC) said in a press briefing on Thursday. That translates to a total of 371,000 domestic passenger flights last month, up 3.5% from the same period in 2019. Chinese regulators expect a continuation of strong domestic market performance in October, driven largely by China’s Golden Week holiday.
China Express to expand fleet with 100 COMAC order
China Express Airlines confirmed its intentions to expand its fleet by 100 brand-new aircraft. The airline plans to acquire 100 aircraft from China Commercial Aircraft Company (COMAC), a Chinese state-owned aerospace manufacturer. The carrier reportedly announced that the airline intends to obtain a total of 100 COMAC aircraft, of which 50 would be ARJ21-700ERs. However, the purchase is still subject to the air carrier shareholder’s approval.
China Southern Airlines Sets Record With $2.4 Billion Convertible Bond
Last week in a rare mega deal by China Southern Airlines is set to revive the country’s convertible bond market, after volatile trading dried up issuance of the popular securities. The carrier opened subscriptions for 16 billion yuan ($2.4 billion) of its convertible bonds reported Bloomberg.
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