Monday, April 30th, China Eastern Airlines Corp. declared it agreed to buy 20 B777-300ER aircraft from Boeing Co. for the price of US$5.94 billion.
The new aircraft will be delivered in stages from 2014 to 2018 and it 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.
The company also agreed to sell five Airbus A340-600 aircraft, in a deal worth CNY4.47 billion (US$707 million), which will help the China Eastern cut costs.
China Eastern’s plan came amid disputes between European Union and Beijing over aircraft emissions. The EU Officials have decided to extend this year levies on emissions of carbon dioxide to the aviation industry. Any airline that operates at a European airport should have special credits to offset its carbon-dioxide emissions by a program known as the emissions-trading system (ETS).