BREAKING NEWS

China Eastern Airlines to buy 50 jets from Airbus

By ASSOCIATED PRESS

DECEMBER 31, 2010 05:35

HONG KONG — China Eastern Airlines says it is buying 50 new Airbus A320 jets to meet rising demand for its domestic and international air services.

The Shanghai-based airline says that while the total deal is worth $3.2 billion according to 2005 list prices, it is getting "significant price concessions" from Toulouse, France-based Airbus that it wouldn't disclose.

The aircraft will be delivered in stages from 2012 to 2015. The airline says the new planes will increase total capacity, including that of subsidiary Shanghai Airlines, by 11 percent.

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