China Eastern Airlines: To Buy 20 B777-300ER Aircraft For US$5.94 Billion
April 29 2012 - 9:03PM
Dow Jones News
China Eastern Airlines Corp. (0670.HK) said Monday it has agreed
to purchase 20 B777-300ER aircraft from Boeing Co. (BA) for US$5.94
billion.
The Shanghai-based airline said the new aircraft, which will be
delivered in stages from 2014 to 2018, will help satisfy the
increasing demand on international long-haul routes.
"The purchase of the Boeing aircraft will further strengthen the
company's competitiveness in the international civil aviation
market and increase its operational capacity in international
routes of the company," China Eastern said in a statement.
Meanwhile, the company has agreed to sell five Airbus A340-600
aircraft, in a deal worth CNY4.47 billion (US$707 million), it said
in the same statement. The sale will help the airline cuts
costs.
-By Fiona Law, Dow Jones Newswires; 852-2802-7002;
fiona.law@dowjones.com
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