Friday, February 22, 2019
Martin Hennecke

Airbus holds back US$1b HNA jets
Airbus faces a logjam of undelivered A330 jets worth well over US$1 billion (HK$7.8 billion) for airlines affiliated to China's debt-laden HNA Group following a standoff over late payments, according to industry sources and a examination of parked aircraft.

Companies belonging to the troubled Chinese aviation-to-finance conglomerate have delayed payments for several months, leading Airbus to withdraw deliveries rather than step in to finance the aircraft itself, sources said.

"After six months of talks, Airbus took the decision to withdraw the planes as it does not want to play the financier," said a person familiar with the discussions.

However, another person involved in the matter cautioned: "It is in the process of being resolved."

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