Hong Kong carrier CR Airways will invest more than $3 billion in 40 Boeing (BA.N: Quote, Profile, Research) aircraft as it expands services to China, a newspaper reported on Monday.
The South China Morning Post, citing sources close to the deal, said CR Airways would sign a memorandum of understanding with Boeing to buy 30 B737-800s and 10 B787s on Tuesday, and a formal purchase agreement was scheduled to be signed next month.
The paper also said it was hard to see how CR Airways would finance the deal given the existing shareholder structure and business scope without the help of Hainan Airlines.
Is this another Primaris??? lol