Hainan Airlines Co., Ltd. has been ready for a possible delayed delivery of ten Boeing 787 aircrafts that the Chinese air carrier ordered from The Boeing Company.
The possibility cannot be ruled out that the delivery of the first Boeing 787 would be delayed until the first quarter of 2012, said Wang Yingming, president of the Shanghai-listed air carrier.
In case of a delayed delivery, Hainan Airlines will ask Boeing for compensation, stressed Chen Feng, chairman of Hainan Airlines Group (HNA Group), parent of the air carrier.
Hainan Airlines ordered ten Boeing 787s, the first of which is scheduled to be delivered this December and five more in 2012, according to Wang.
The delivery of the first Boeing 787 has been postponed for five times. Chen complained that the repeated delivery had had an impact upon the development of Hainan Airlines, and that a prompt delivery was expected instead of another delay.
But industry analysts pointed out that the market dominated by aircraft manufacturers was a sellers' market with contracts in the favor of plane producers, so Chinese air carriers can hardly obtain compensation.
In 2005, several Chinese airlines ordered 60 Boeing 787 aircrafts, worth USD 7.2 billion in total, by signing framework agreements with the leading plane maker. These airlines include Air China Ltd. (SEHK: 0753 and SHSE: 601111), China Eastern Airlines Corp., Ltd. (SEHK: 0670 and SHSE: 600115), China Southern Airlines Company Limited (SHSE: 600029 and SEHK: 1055), Hainan Airlines, Shanghai Airlines and Xiamen Airlines.
In the following years, due to such factors as delivery delay, these airlines adjusted their Boeing 787 purchase plans in succession. Huang Bin, board secretary of Air China, disclosed that Air China replaced 15 787-8 aircrafts with 15 787-9 airplanes, which would be delivered from 2015 to 2018. Xiamen Airlines replaced three 787 airlines it confirmed with 737 aircrafts, said previous reports.
Slightly earlier, Xiamen Airlines, headquartered in Xiamen City, Fujian Province, southeast China, had further negotiations with Boeing about the introduction of six Boeing 787 long-haul wide-body passenger aircrafts.
Remarkably, China Southern Airlines, one of the nation's Top Three air carriers, will become the first user of the Boeing 787 across the country, according to the air carrier and the maker of the sparkling aircraft.
The first Boeing 787 will serve the international route, said China Southern Airlines. The aircraft will be delivered to the air carrier, based in the southern Chinese province of Guangdong, in 2010.
The Boeing 787, which consumes oil 20 percent less than its likes, will see its different parts such as rudder, wing body fairing, and the leading edge of vertical tail, come from leading aircraft parts makers in China.
(USD 1 = CNY 6.59)
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