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China Places Airplane Order with Airbus Despite Big Airline Losses

After ordering 292 Airbus planes in July, China added another 40 planes in September, making the order total 332 planes for US $42.1 billion. The orders were placed by China Southern Airlines, Air China, and China Eastern Airlines.

However, China’s civil aviation industry has accumulated a loss of nearly 300 billion yuan (US $41 billion) since the COVID pandemic, with a loss of 108.9 billion yuan (US $15 billion) in the first half of this year alone. There are 12 Chinese airlines whose total assets are lower than their total debts.

The ordered Airbus planes are the A320NEO series plane, a narrow-body mainline airliner. China has manufactured its own narrow-body mainline airliner, the C919, and started selling it overseas.

Source: Epoch Times, October 15, 2022