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Hong Kong Airlines to buy 10 A380s from Airbus

Jan. 9, 2012 (China Knowledge) - Hong Kong Airlines, backed by HNA Group, the parent firm of Hainan Airlines Co Ltd<600221><900945>, has inked a deal to buy ten A380 jets from Airbus SAS, the world's largest commercial plane maker, for a list price of US$3.80 billion in total.

Yang Jianhong, President of the Hong Kong carrier, confirmed the news, adding that the first A380 will be delivered in 2015.

The airline is expected to get a significant discount on the list price, said analysts.

"We have no comment regarding our order before our annual press conference on January 17", said a Singapore-based spokesman for Airbus, the European largest aircraft manufacturer.

Hong Kong Airlines' fleet would be expanded to more than 30 aircraft by the end of this year after the addition of six A330s and eight A320s, said a person familiar with the matter, adding that the carrier also expects to take delivery of more than one aircraft per month through 2015.

In addition, Hong Kong Airlines is considering to launch its initial public offering with fundraising of about US$300 million in the third quarter of 2012, sources reported.

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