China’s airlines urged: Dump new aircraft orders
BEIJING – China’s civil aviation authority has urged state-owned airlines to cancel or delay orders for new aircraft next year in an effort to keep carriers out of financial trouble during the current global economic crisis.
The official Xinhua news agency said the Civil Aviation Administration of China (CAAC) also encouraged airlines to return leased aircraft from overseas firms and ground or sell some planes to cope with weaker demand.
The administration said it would also be very cautious of approving new orders for aircraft next year.
Also on its website, CAAC said no new airlines would be approved for operation before 2012 and airlines have been instructed to retire large numbers of old aircraft.
These moves could deal a heavy blow to aircraft makers like Airbus and Boeing, which see China as an important market for future growth, Xinhua reported.
Boeing, which has a 60-percent share in the Chinese market, secured orders of 101 aircraft from China last year. Airbus managed to sell 160 planes to China in the same year, and its market share has risen to 39 percent.
An industry insider estimated about 180 new planes would be delivered to Chinese airlines next year
The airlines have not yet said whether they will cancel or delay those orders as was recommended by the CAAC.
China’s civil aviation market maintained robust growth over the past three years. Planes in operation rose from 751 at the beginning of 2005 to 1,256 in October this year.
“Since the second half of this year, the global economic crisis has had an increasingly negative effect on the development of the civil aviation industry,” the CAAC said in the notice.
The country’s three major carriers, China Air, China Eastern and the smaller China Southern all reported losses in the third quarter
Source: Xinhua
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