11/11/2024
Hainan Airlines plans to buy 40 ARJ21-700 jets from China’s Commercial Aircraft Corp. (Comac) for up to $1.52 billion to grow its fleet and business. Urumqi Air, Hainan’s low-cost unit, will acquire the planes at $38 million each, with deliveries from 2025 to 2032. The deal, approved by Hainan's board, awaits shareholder and regulatory approval, and the airline may seek bank loans for funding. Comac, which primarily serves Chinese clients, produces the C919, a competitor to Airbus’s A320 and Boeing’s 737, though it lacks international certification.