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Kenya Airways Reaches Deal With Boeing Over 787 Delivery

By Doug Cameron Of DOW JONES NEWSWIRES Kenya Airways Ltd. (KAL.NR) said Thursday it reached a "settlement" with Boeing Co. (BA) for the delivery of its delayed 787 aircraft, having last year threatened to ditch the order and consider buying Airbus planes instead. The airline didn't provide details of the deal, the latest in a line reached with 787 aircraft customers by Boeing. The plane is three years behind schedule and has exposed the manufacturer to millions of dollars in penalties. Kenya Airways, in which Air France-KLM (AF.PA) has a 26% stake, will receive the first of its nine 787s in the last quarter of 2013, three years after the original delivery date. It also plans to exercise options for four more, with the planes replacing its six Boeing 767-300ERs. Boeing has said it plans to deliver as many as 20 787s this year, with the first for All Nippon Airways Co. (9202.TO), or ANA, arriving in the third quarter. Media reports had suggested all of the 2011 deliveries would be to Asia-based carriers, including Japan Airlines Corp., China Southern Airlines Co. Ltd. (1055.HK) and Air India. The company has seen orders for 12 787s cancelled so far this year--including an eight-plane deal from Fiji-based Air Pacific--and last year had a net loss in orders for the aircraft. -By Doug Cameron, Dow Jones Newswires; 312-750-4135; doug.cameron@dowjones.com

Stock News for China South Air (ZNH)
DateTimeHeadline
10/29/201412:54:54ASIA MARKETS: Japan's Nikkei Leads Asian Stocks Higher
05/21/201409:27:13Chinese Commercial Plane Maker Faces Delays
05/16/201416:55:55ADR Shares End Higher; Total, Baidu Shares Active
05/16/201408:00:14China Southern Airlines to Buy 80 Airbus Aircraft
05/16/201407:22:41China Southern Airlines to Buy 80 Aircraft from Airbus
03/28/201416:51:17ADR Shares End Higher; Aviva Shares Active
03/10/201410:34:44China's Rules for Transit Passengers Are Spotlighted
11/21/201317:27:46ADR Shares End Mixed Amid China Data
07/04/201303:42:06Hainan Air Takes Delivery of First Boeing 787 Aircraft
06/17/201307:34:14AIR SHOW: China Southern Airlines Opts for Pratt & Whitney Engines
05/23/201307:50:08Boeing Scores China Clearance for Dreamliner
05/23/201303:41:12China Regulator Grants Airworthiness Certificate for Boeing 787s...
05/09/201309:33:33China Southern, Air China Shelve Talks on Joint Airbus A380 Flights
05/09/201304:43:41China Southern Shelves Talks With Air China for Joint A380 Flights
05/07/201309:41:04Air China's Board Approves Plan to Buy 100 Aircraft from Airbus
04/05/201317:20:34ADR Shares End Mixed After Disappointing US Jobs Report
04/03/201313:10:16China Spurs Rebound in Airline Growth
12/06/201204:42:23Hong Kong Airlines May Scrap All of Its A380 Orders
12/05/201205:15:38China Southern Buys 10 Airbus A330-300 Aircraft to Boost Capacity
08/03/201206:33:03China Southern: Unit Xiamen Airlines to Buy 40 Boeing 737 Aircraft

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