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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
In a move highlighting Chinese airlines' continued expansion, China Eastern Airlines announced the purchase of 25 Airbus A330 neo jets in a $9.4 billion deal, according to reports. The deal is part of the carrier's strategy to modernize its fleet and meet rising air travel demand in China.
The deal comes as China's aviation sector experiences a notable recovery in travel demand. China Eastern's shares closed at HKD 3.57 in Hong Kong on June 25, while Airbus shares closed at EUR 191.72 in Paris on June 26, per market data.
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Sign InInvestors will focus on the company's second-quarter results and any updates on expansion plans. China Eastern's stock faces support at HKD 3.38 and resistance at HKD 3.61, based on recent closing data.