Shenzhen Airlines to Lease More Boeing Aircraft

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Last updated at: (Beijing Time) Tuesday, March 04, 2003

Shenzhen Airlines to Lease More Boeing Aircraft

Shenzhen Airlines Co. Ltd is to lease 10 new Boeing 737-900 planes in the next three years, according to contracts signed between the company and three commercial banks here Monday.

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Shenzhen Airlines Co. Ltd is to lease 10 new Boeing 737-900 planes in the next three years, according to contracts signed between the company and three commercial banks here Monday.

Dong Lijia, general manager of Shenzhen Airlines, said the airline was being extended loans totaling nine billion yuan (109 million US dollars) from the banks.

Dong said the credit would also be used to build new maintenance centers and other facilities, adding that Shenzhen Airlines would have 40 planes in the next five years.

The company already had 18 Boeing 737 aircraft, and leased six planes in 2002, while about 2.57 million passengers flew with the airline last year, an increase of 61.7 percent over the previous year.

Established 10 years ago, Shenzhen Airlines has made a total profit of 600 million yuan (72.3 million US dollars) over the lasteight years.

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