FLEET - China Express Airlines reallocates funds to acquire C909s

China Express Airlines (G5, Chongqing) will reallocate CNY925 million yuan (USD135.7 million) from its 2022 private share placement to acquire five C909s. The carrier cut a planned four-aircraft A320 acquisition to two and transferred its implementation to wholly owned subsidiary Yunfei Aircraft Leasing (Shanghai) Co., Ltd. It also terminated a fundraising project for 14 spare aircraft engines, which would instead be financed with self-raised funds if required.

Separately, it may use up to CNY390 million (USD57.2 million) of idle proceeds as working capital for up to 12 months.

CH Aviation