BUZZ-Air China leads slide in "Big Three" after Airbus purchase deal

Airbus SE

04/07/2022 05:00

** Hong Kong shares of Air China  0753.HK  drop as much as
9.8% to HK$6.15, the biggest daily pct decline since March 7.
    ** Stock hit the lowest since June 28 and is on course for
the second session of fall
    ** Air China's Shanghai-listed stock  601111.SS  falls 6% 
    ** China's "Big Three" state airlines pledged on Friday to
buy a total of almost 300 Airbus  AIR.PA  jets, the biggest
order by Chinese carriers since the start of the COVID-19
pandemic and a breakthrough for Europe as Boeing remains
partially frozen out of China.  urn:newsml:reuters.com:*:nL1N2YI0M4
    ** Air China and China Southern Airlines  600029.SS  said
they would each buy 96 A320 neo-family jets worth $12.2 bln at
list prices. China Eastern Airlines  600115.SS  said it would
buy 100 airplanes of the same type, worth $12.8 bln.
    ** The three airlines said they would finance the deal with
their self-owned funds, commercial banks loans and other
financing instruments.
    ** China Southern's Hong Kong shares  1055.HK  and its
Shanghai stock  600029.SS  both dip 3.7% 
    ** China Eastern's Hong Kong stock  0670.HK  falls 2.7%
while its Shanghai shares slips 1.2%  
    ** The Hang Seng Commerce & Industry Index  .HSNC  climbs
0.3% while the Hang Seng Index  .HSI  slips 0.6%


 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))