The China Southern Airlines Board announced that on January 29, 2004, the Board gave its …
The China Southern Airlines Board announced that on January 29, 2004, the Board gave its in-principle approval for the acquisition of 15 A320-200 aircraft and six A319-100 aircraft from Airbus. The Board noted that certain press articles have recently reported that the Company plans to acquire certain aircraft from Airbus.
In response to these articles, the Company would like to clarify that as of the date hereof, the agreement with Airbus for the acquisition of Airbus Aircraft is in the course of being finalized and no definitive agreement has been signed by the Company and Airbus.
A further announcement will be made in due course in respect of the proposed acquisition of Airbus Aircraft in accordance with the Listing Rules and other rules and regulations applicable to the Company.
The Board further announced that on January 18, 2004, it approved the EMB Aircraft Acquisition Agreement dated December 17, 2003 between the Company and Harbin Embraer, an independent third party who is not a connected person
(as defined in the Listing Rules) of the Company, for the purpose of acquiring six EMB-145LR aircraft.
The Directors believe that the acquisition of EMB Aircraft, together with the proposed acquisition of Airbus Aircraft, will further expand the flight service network and perating capacity of the Company, thereby enhancing its
ability to compete significantly in the industry.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
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