Hainan Airlines buys 30 B787-9s

The order would be the biggest this year for the jet, worth US$7.7 billion according to list prices.


787-9 Boeing Changan Airlines Hainan Airlines HNA Group


China’s fourth-largest carrier said it plans to order 30 B787-9 aircraft as it seeks to expand international routes to tap into growing demand for overseas travel from China. The order would be the biggest this year for the jet, worth US$7.7 billion according to list prices. It would also boost the aircraft maker’s 787 programme backlog to 855 planes. The order is expected to have a volume discount and will be for delivery before 2021.

In another notice, Hainan Airlines said it has signed a reciprocal reinsurance agreement with its parent HNA Group to increase the credit guarantee it receives to 40 billion yuan. HNA Group, a conglomerate with businesses spanning transport, tourism and finance, counts both Hong Kong Airlines and Hong Kong Express as subsidiaries. The airline also said it will inject 400 million yuan into Changan Airlines, of which it is a controlling shareholder.