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Home » Money » United Airlines sells 22 planes to China. NATO warns of Chinese buying spree.

United Airlines sells 22 planes to China. NATO warns of Chinese buying spree.

PortandTerminal.com, April 19, 2020

The pandemic has top officials on the security side of government warning that China might use this time to snap-up critical infrastructure and technology assets from the West.

WASHINGTON – United Airlines will sell and lease back 22 planes to Bank of China Aviation, a statement from the aircraft investor released to the Hong Kong Stock Exchange said on Sunday.

The announcement comes during the same week NATO issued a warning that this may be just the beginning of this type of move from China.

Chart showing the share price of United Airlines over the past 52 weeks
United Airlines’ share price closed was down at the close on Friday by 70% vs its 52-week high.

NATO’s warning has called on governments to be wary of Chinese companies swooping in with buckets of cash to buy strategic stakes or majority control in U.S. and European companies as asset prices fall due to the pandemic.

“Some allies (are) more vulnerable for situations where critical infrastructure can be sold out,”

NATO Secretary-General Jens Stoltenberg

United Airlines’ share price closed was down at the close on Friday by 70% vs its 52-week high. United said on Wednesday it had reduced its flight schedule in May by 90% and expects similar cuts for June as a result of the coronavirus pandemic.

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