Summary by Moomoo AI
On April 26, 2024, Air China signed a purchase agreement with Commercial Aircraft Corporation of China Ltd. (COMAC) to purchase 100 C919 aircraft (extended-range type) for a basic price of approximately $10.8 billion. This transaction is a major trade for Air China, requiring shareholder approval, and will be delivered in batches from 2024 to 2031. Air China stated that this move will help optimize fleet structure and meet long-term capacity needs, and is expected to increase group capacity by approximately 7.5%. Air China will pay for the transaction costs with its own funds, bank loans, and other financing methods, and believes it will not have a significant impact on the company's cash flow and business operations. The specific date and location of the extraordinary general meeting of shareholders will be announced in due course.