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Non-Tech : General Electric (GE) -- Ignore unavailable to you. Want to Upgrade?

To: EepOpp who wrote (940)	8/11/1999 7:55:00 AM
From: TechMkt	Respond to of 3256

It seems like GE winds no matter which aircraft is bought! Read last paragraph. Fez ___________________________________ Wednesday August 11, 4:56 am Eastern Time China Airlines signs aircraft deal with Boeing TAIPEI, Aug 11 (Reuters) - Taiwan's leading carrier China Airlines on Wednesday signed a deal to buy 13 cargo jets from Boeing Co (NYSE:BA - news) of the United States with options for 11 more cargo and passenger jets. Besides the firm orders for the 13 747-400 cargo jets, China Airlines has options for four 747-400 cargo jets, two 747-400 passenger jets, and five 737-800 passenger jets. Delivery of the 747-400s, both the firm orders and the options, is set for between July 2000 and March 2007. The 737-800s will be delivered between October 2000 and April 2004. China Airlines put the value of the deal, including options, at US$3.8 billion. China Airlines was scheduled to sign a separate contract with European consortium Airbus Industrie [ARBU.CN] on Thursday. A China Airlines spokesman said it would buy seven Airbus 340-300 passenger jets with options for more planes. China Airlines said it would buy a total of 36 airliners worth US$5.6 billion from the two aerospace competitors -- the largest aircraft order in Taiwan's history and one of the largest in East Asia since the regional economic crisis began in 1997. China Airlines said the deal was made in line with its plan to expand and simplify its fleet. It said the deal was finalised in June and dismissed reports that Taiwan's anger with Washington's China policy was behind the airline's dropping of plans to buy Boeing 777s. ``The committee's prime considerations were responsibility to shareholders, the maintenance of flight safety, and sustainability of operations,' China Airlines said in a statement. China Airlines said it would finance the purchases with its own funds, ``a capital increment through cash injection, external financing, transnational leasing, and bank loans.' At a news conference after the signing ceremony, China Airlines President Sandy Liu indirectly ruled out future plans to buy Boeing 777s. Liu said China Airlines would simplify its fleet by 2007 to consist of Boeing 737-800s and 747-400s, and Airbus 340s and 330s. Fred Howard, president of Boeing Asia, said Boeing was disappointed by China Airlines' decision not to buy 777s. ``Of course we are disappointed. But this will not affect our long-term relations with China Airlines,' Howard said. China Airlines currently has 59 aircraft in its fleet, including 47 passenger jets and 12 freighters. China Airlines officials said General Electric Co (NYSE:GE - news) would supply the engines for the 747-400 freighters, while the 340-300 engines will be supplied by CFM International, a consortium of General Electric Co (NYSE:GE - news) and Snecma [SNEC.CN], a French company.