China Southern buys 7 Boeing freighters for at least US$3.6 billion

China Southern Airlines announced this Friday (26) the purchase of seven cargo aircraft from Boeing, in a deal with a catalog value of at least US$3.618 billion. The order includes five B777-8F and two B777F freighters, in addition to guaranteeing the subsidiary CSA Cargo (China Southern Air Cargo) the right to acquire three more units of the B777-8F model in the future.

According to a statement sent to the Hong Kong Stock Exchange, the price actually paid will be lower than the catalog value due to commercial discounts granted by the American manufacturer. The company, however, stated that the exact amount will remain confidential, in line with industry practice, to preserve the negotiated conditions.

Payment will be made in cash, with the group's own resources, in installments linked to the delivery schedule. The aircraft will be delivered gradually between 2027 and 2034, subject to approval from Chinese regulatory authorities.

China Southern said the acquisition seeks to meet expected growth in air cargo transportation, driven by the expansion of cross-border e-commerce and Chinese strategic initiatives such as the Guangdong-Hong Kong-Macao Greater Bay Area and the New Silk Road (Belt and Road). According to the company, the purchase will also contribute to optimizing the fleet and strengthening the competitiveness and profitability of cargo operations.

The board of directors classified the terms of the agreement as "fair and reasonable" and stated that the transaction takes place under normal commercial conditions. According to the listing rules of the Hong Kong Stock Exchange, the transaction requires disclosure to the market, but does not depend on shareholder approval.

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Source: CNN