HONG KONG--China Eastern Airlines Corp. (CEA, 0670.HK, K3SD.SG,
600115.SH) has agreed to buy 70 Airbus A320NEO aircraft with a list
price of $6.37 billion, as it seeks to boost capacity.
The aircraft will be delivered to the Shanghai-based airline
from 2018 to 2020 and will be used to service short and medium
routes, state-run China Eastern said in a statement Friday.
The carrier didn't disclose the exact purchase price but Airbus
has granted it significant concessions, it added.
The deal will help boost the competitiveness of China Eastern by
increasing its capacity by around 13%, as it seeks to launch more
short and medium routes in the region.
Separately, the carrier agrees to sell back seven used Airbus
300-600 jetliners to the aircraft manufacturer, without disclosing
further details.
Write to Joanne Chiu at joanne.chiu@wsj.com
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