China Express reallocates funds, shifts project for fleet expansion

China Express Airlines (SZSE:002928) is restructuring its fleet expansion strategy by reallocating funds from its 2022 initial public offering, according to a new filing. The airline is reducing the number of Airbus A320 aircraft initially planned for acquisition from four to two, with the remaining funds redirected towards the acquisition of five COMAC C909 aircraft. Additionally, plans to acquire 14 spare aircraft engines have been canceled and funds have also been reallocated to the COMAC C909 program.