LondonAkis
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June 14, 2004
Trade in shares of China Eastern Airlines was suspended on Monday pending its formal announcement of a major order for new planes, a company spokesman said.
On Friday, European plane maker Airbus won an order from the Shanghai-based carrier for 20 of its A330-300 wide body jets.
The order, announced during a visit to France by Chinese Vice Premier Zeng Peiyan, is valued at over USD$2 billion based on list prices.
"It (the share suspension) is because of Friday's news. We will make an announcement tomorrow and trade should resume then," said China Eastern company spokesman Luo Zhuping.
Deliveries of the aircraft will start in the first quarter of 2006.
Airbus and its rival Boeing have turned their attention to Asia, and fast growing Chinese carriers in particular, as US and European airlines battle cut-throat price competition and high fuel prices.
(Reuters)
Trade in shares of China Eastern Airlines was suspended on Monday pending its formal announcement of a major order for new planes, a company spokesman said.
On Friday, European plane maker Airbus won an order from the Shanghai-based carrier for 20 of its A330-300 wide body jets.
The order, announced during a visit to France by Chinese Vice Premier Zeng Peiyan, is valued at over USD$2 billion based on list prices.
"It (the share suspension) is because of Friday's news. We will make an announcement tomorrow and trade should resume then," said China Eastern company spokesman Luo Zhuping.
Deliveries of the aircraft will start in the first quarter of 2006.
Airbus and its rival Boeing have turned their attention to Asia, and fast growing Chinese carriers in particular, as US and European airlines battle cut-throat price competition and high fuel prices.
(Reuters)