China Eastern Airlines is to purchase 50 Airbus A320 aircraft, for delivery in stages from 2012 to 2015.
The Shanghai-based airline states that it entered a purchase agreement today with the airframer.
China Eastern adds that the transaction is subject to approval of the company's shareholders.
It says that the new aircraft are valued at $3.22 billion overall, based on the 2005 list price.
But China Eastern says that it has obtained "significant price concessions" after "arm's length negotiations" between the carrier and Airbus.
While it says that the actual transaction figure is to remain confidential, at the request of Airbus, the airline says the concessions are "more favourable" than those obtained under an agreement in June 2009.
That agreement involved the purchase of 20 A320s.
"Purchase of the [latest] aircraft will further enhance the route coverage of the company and increase the economical benefit of the company," says China Eastern.
China Eastern has not disclosed an engine selection for the 50 A320s. The airline operates A320-family jets with a mix of CFM International CFM56 and International Aero Engines V2500 powerplants.
Lead image © Airspace user 'apgphoto'
Source: Air Transport Intelligence news
