China Southern Airlines announced on August 3 that it is to sell six A300 aircraft, five engines, and stocks of aviation materials in a bid to reduce operating costs.
On July 31, China Southern Airlines signed agreements with Tigris International N.V. and GALink Aviation Technology Co. Ltd. Under the agreements, six A300-600R airplanes and five engines will be sold to Tigris. The aviation materials will be bought by GALINK for US$10.2 million.
The six planes will be sold for more than their book value. The deal is expected to generate a profit of 46.58 million yuan for China Southern Airlines.
In other news, the delivery date for A380 airplanes ordered by China Southern Airlines has been confirmed as February, 2011, 39 months behind schedule.
For more information, please consult the Chinese coverage here:
(China.org.cn by Li Xiaohua August 4, 2009)