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Business Standard
6 days ago
- Business
- Business Standard
China weighs ordering up to 500 Airbus jets during EU leaders' visit
By Siddharth Philip and Danny Lee China is considering placing an order for hundreds of Airbus SE aircraft as soon as next month, when European leaders visit Beijing to celebrate the countries' long-term ties, according to people familiar with the matter. Deliberations are underway with Chinese airlines about the size of a potential order, said the people, who asked not to be named discussing confidential matters. A deal could involve about 300 planes and include both narrowbody and widebody models, they said, with one person saying the order could range between 200 and as many as 500 aircraft. Negotiations are fluid and could fall apart or take longer to reach a conclusion, the people said. The European planemaker rose as much as 2.3 per cent in early Paris trading. Rolls-Royce Holdings Plc, which makes engines for Airbus's widebody aircraft, rose as much as 0.7 per cent in London. French President Emmanuel Macron and Chancellor Friedrich Merz of Germany are among leaders that may visit Beijing in July to mark 50 years of diplomatic relations between China and the European Union. Their countries are the two biggest owners of Airbus, and a high-profile deal with the planemaker would allow Chinese President Xi Jinping to send a message to US President Donald Trump over trade. China and the US — the world's two biggest economies — are at loggerheads over trade rules that Trump is determined to reset during his second presidential term. Should the two sides resolve their differences, Airbus rival Boeing Co. could potentially win big — the US planemaker is America's biggest exporter and a jet sale was featured in a US-UK trade deal in May. To date, however, Boeing has been penalized in China. In April, authorities in Beijing told airlines to stop taking deliveries of Boeing jets. Trade tensions and the crises that befell the 737 Max jet date back years, and have given Airbus an upper hand in what was once a carefully balanced market between the two dominant planemakers. Widebodies would be a significant portion of a new Airbus order, the people said, with one person saying the A330neo, the planemaker's smallest twin-aisle model, could win some sales. The number of twin-aisle jets in backlog for China's state-run and privately operated carriers has dwindled, as Boeing has traditionally sold more in the market. Should the order run to 500 planes it would rank as one of the biggest ever and certainly the largest for China, eclipsing an order for about 300 single-aisle Airbus jets made in 2022 that was then worth around $37 billion. Air India Ltd. inked an order for 470 Airbus and Boeing planes back in 2023 and another Indian airline, IndiGo, placed a record-breaking order with Airbus in mid 2023 for 500 narrowbody aircraft. Boeing hasn't won a major order from China since at least 2017 due to trade tensions and self-inflicted issues. In 2019, China became the first nation to ground the 737 Max following two deadly crashes. Trade disputes with the Biden and first Trump administrations also helped tilt Chinese orders toward Airbus. Then in 2024, Boeing suffered a quality crisis when a door plug blew out mid-flight in January. Any deal would likely be carried out through China's state-run aircraft procurement body, which typically negotiates on behalf of the country's airlines.
Bloomberg
6 days ago
- Business
- Bloomberg
China Considers Ordering Hundreds of Airbus Jets in Major Deal
By and Danny Lee Save China is considering placing an order for hundreds of Airbus SE aircraft as soon as next month, when European leaders visit Beijing to celebrate the countries' long-term ties, according to people familiar with the matter. Deliberations are underway with Chinese airlines about the size of a potential order, said the people, who asked not to be named discussing confidential matters. A deal could involve about 300 planes and include both narrowbody and widebody models, they said, with one person saying the order could range between 200 and as many as 500 aircraft.
Yahoo
27-05-2025
- Automotive
- Yahoo
BYD Shares Extend Losses as Price Cuts Throw Spotlight on Sales
(Bloomberg) -- BYD Co. shares extended losses in Hong Kong trading Tuesday — taking their two-day slide to more than 10% — as last week's sweeping price cuts stoked concern of another wave of discounting in China's cutthroat electric car market. NY Private School Pleads for Donors to Stay Open After Declaring Bankruptcy UAE's AI University Aims to Become Stanford of the Gulf NYC's War on Trash Gets a Glam Squad Pacific Coast Highway to Reopen Near Malibu After January Fires The stock fell as much as 4% in morning trading, following Monday's 8.6% drop. The selloff was sparked after the EV giant announced cuts of as much as 34% on 22 electric and plug-in hybrid models in China until the end of June. The move came after the company last month posted its slowest year-on-year growth in vehicle deliveries in more than four years. While April sales rose 21% from a year earlier, that was the smallest monthly gain since August 2020, except for a drop in deliveries in February last year, when the Lunar New Year holiday saw nationwide industry sales contract 22%. Rival Geely Automobile Holdings Ltd.'s compact hatchback Xingyuan last month became the top-selling model in China, overtaking BYD's popular Seagull, according to data from the China Automotive Technology and Research Center. Morgan Stanley analysts said the price competition sparked by BYD is likely to drag on, with ripple effects into the second half of the year. What Bloomberg Intelligence says: BYD's latest price cuts across 22 electric vehicle models highlight its 2025 focus on volume, forcing rivals to deepen discounts or concede sales and market share. China's auto price discounts averaged 15%-16% this year and can potentially increase in 2H, despite government subsidies driving industry growth. - Joanna Chen, autos analyst The steep price cuts have taken some of the gloss off what has so far been a stellar year for BYD. The stock hit a record high last week, it posted its best month of sales in China and outsold Tesla Inc. in Europe for the first time in April, and raised HK$43.5 billion ($5.5 billion) in a Hong Kong share sale in March. Before this week's slide, BYD Hong Kong-traded shares had surged almost 75% this year, and with a market value equal to around $158 billion, is bigger than Ford Motor Co., General Motors Co. and Volkswagen AG combined. On the technology front, it has unveiled a lineup of cars it says can charge in five minutes, and started to make its God's Eye advanced driver-assistance system standard in vehicles priced from 100,000 yuan ($13,900) and include it in several lower-cost models such as the popular Seagull hatchback. Some of the recently discounted models include those equipped with God's Eye. Investors will get more insight into how BYD is tracking when monthly sales for May are released on Sunday. --With assistance from Danny Lee and Chunying Zhang. Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Why Apple Still Hasn't Cracked AI Inside the First Stargate AI Data Center How Coach Handbags Became a Gen Z Status Symbol AI Is Helping Executives Tackle the Dreaded Post-Vacation Inbox ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mint
27-05-2025
- Automotive
- Mint
BYD Shares Extend Losses as Price Cuts Throw Spotlight on Sales
(Bloomberg) -- BYD Co. shares extended losses in Hong Kong trading Tuesday — taking their two-day slide to more than 10% — as last week's sweeping price cuts stoked concern of another wave of discounting in China's cutthroat electric car market. The stock fell as much as 4% in morning trading, following Monday's 8.6% drop. The selloff was sparked after the EV giant announced cuts of as much as 34% on 22 electric and plug-in hybrid models in China until the end of June. The move came after the company last month posted its slowest year-on-year growth in vehicle deliveries in more than four years. While April sales rose 21% from a year earlier, that was the smallest monthly gain since August 2020, except for a drop in deliveries in February last year, when the Lunar New Year holiday saw nationwide industry sales contract 22%. Rival Geely Automobile Holdings Ltd.'s compact hatchback Xingyuan last month became the top-selling model in China, overtaking BYD's popular Seagull, according to data from the China Automotive Technology and Research Center. Morgan Stanley analysts said the price competition sparked by BYD is likely to drag on, with ripple effects into the second half of the year. What Bloomberg Intelligence says: BYD's latest price cuts across 22 electric vehicle models highlight its 2025 focus on volume, forcing rivals to deepen discounts or concede sales and market share. China's auto price discounts averaged 15%-16% this year and can potentially increase in 2H, despite government subsidies driving industry growth. - Joanna Chen, autos analyst The steep price cuts have taken some of the gloss off what has so far been a stellar year for BYD. The stock hit a record high last week, it posted its best month of sales in China and outsold Tesla Inc. in Europe for the first time in April, and raised HK$43.5 billion ($5.5 billion) in a Hong Kong share sale in March. Before this week's slide, BYD Hong Kong-traded shares had surged almost 75% this year, and with a market value equal to around $158 billion, is bigger than Ford Motor Co., General Motors Co. and Volkswagen AG combined. On the technology front, it has unveiled a lineup of cars it says can charge in five minutes, and started to make its God's Eye advanced driver-assistance system standard in vehicles priced from 100,000 yuan ($13,900) and include it in several lower-cost models such as the popular Seagull hatchback. Some of the recently discounted models include those equipped with God's Eye. Investors will get more insight into how BYD is tracking when monthly sales for May are released on Sunday. --With assistance from Danny Lee and Chunying Zhang. More stories like this are available on
Yahoo
16-05-2025
- Business
- Yahoo
Singapore Air sees trade woes hurting demand in cautious outlook
By Danny Lee and Audrey Wan (Bloomberg) – Singapore Airlines warned tariff and trade tensions on top of broader economic and geopolitical uncertainties could hurt demand for passenger and cargo flights. The city-state flag carrier's cautious outlook emerged despite full-year profit beating estimates and revenue rising to a record as strong travel demand countered intensifying pressure from competitors and geopolitical headwinds. 'The global airline industry faces a challenging operating environment,' the airline said in a statement. The growing challenges 'may impact consumer and business confidence, potentially affecting both passenger and cargo markets,' adding it remained vigilant to adapt to changing market conditions. Net income rose 3.9% to S$2.78 billion ($2.1 billion) in the year ended March 31, higher than analyst estimates for S$2.4 billion. Revenue edged 2.8% higher to a record S$19.5 billion, topping expectations for S$19.3 billion. Singapore Air's muted final quarter underscores the uncertainty hanging over the carrier for the year ahead. While the airline had been confident about robust travel demand, US President Donald Trump's ever-changing policies have hurt consumer sentiment and upended global trade flows. The airline's passenger yield – a key metric of profitability – declined slower than in the previous three years, falling 5.5% to 10.3 Singaporean cents per kilometre. Expenses, including fuel costs, rose. Singapore Air's caution stopped short of any concrete financial impact. That contrasts with major US airlines like American Airlines Group Inc. and Delta Air Lines, which withdrew their full-year guidance, while United Airlines took the unusual step of offering two forecasts factoring in a scenario with and without a tariff impact. Europe's largest carrier, Deutsche Lufthansa, had warned last month it had limited earnings visibility amid the trade tensions. Singapore Airlines Group, which includes budget unit Scoot, carried a record 39.4 million passengers in the fiscal period. The carrier also has a 25.1% stake in Tata Group-run Air India. The city-state's flag carrier has entered deals to jointly operate flights and coordinate schedules and airfares on routes between Singapore and the likes of Indonesia, Japan, Germany and Malaysia with rival carriers to shore up its competitive defences. Net income was boosted by a one-off non-cash gain of S$1.1 billion booked in the third quarter. Stripping out the one-off item, adjusted net income fell 37% to S$1.7 billion. Shares in Singapore Air closed 0.3% higher in Singapore Thursday. That takes its year-to-date gains to 6.8%. More stories like this are available on ©2025 Bloomberg L.P.
