China Eastern Airlines Agrees to Buy 50 Boeing 737 Jets
July 09 2015 - 5:38AM
Dow Jones News
By Joanne Chiu
State carrier China Eastern Airlines Corp. (0670.HK) agreed to
buy a total of 50 single-aisle passenger aircraft from Boeing Co.
(BA), as it seeks to expand into the budget-airline market.
China Eastern Airlines said Thursday that the 50 Boeing 737
series narrow-body jets will be operated by its unit China United
Airlines, a Beijing-based domestic carrier that is transforming
itself into a low-cost airline.
The deal has a combined list price value of up to $4.56 billion,
though airline customers typically get large discounts from
aircraft manufacturers for bulk purchases. The carrier plans to
take delivery of the jets between 2017 and 2019.
China Eastern's latest purchase comes as the country's airlines
continue expanding their networks to cope with rapidly growing
demand for air travel, while at the same time speeding up
retirement of older and less fuel-efficient aircraft to reduce
operating costs.
Write to Joanne Chiu at joanne.chiu@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
China Eastern Airlines (NYSE:CEA)
Historical Stock Chart
From Mar 2024 to Apr 2024
China Eastern Airlines (NYSE:CEA)
Historical Stock Chart
From Apr 2023 to Apr 2024