Search Site

Trends banner

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

Xiamen Airlines to buy aircraft

Asia has become a key market for both Airbus and its US rival Boeing as demand for air travel climbs with an expanding middle class. (AFP)
  • The airline, based in the southeastern city of Xiamen has until now had exclusively Boeing aircraft in its fleet.
  • While weakened by the pandemic, airlines around the world are preparing for an expected doubling of air travel in the next two decades.

PARIS, FRANCE – European aircraft manufacturer Airbus said that China’s Xiamen Airlines had made a firm order for 40 A320neo family aircraft.

Xiamen Airlines is “switching to Airbus for its fleet growth, making the airline the newest Airbus customer,” the manufacturer said in a statement.

The airline, based in the southeastern city of Xiamen and part of the China Southern group, has until now had exclusively Boeing aircraft in its fleet.

Airbus did not say whether the order was for A320neo or the larger A321neo aircraft.

At list prices, the order would be worth more $4 billion, but airlines usually negotiate considerable discounts when ordering multiple aircraft.

The order follows nearly three months after a mega-order of 292 by a number of Chinese airlines including Air China, China Eastern, China Southern and Shenzhen Airlines.

While weakened by the pandemic, airlines around the world are preparing for an expected doubling of air travel in the next two decades.

In addition to expanding their fleets, airlines are replacing older aircraft with new models that offer greater fuel efficiency and produce less CO2.