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China Eastern Airlines to buy 60 A320 airplanes

Nov. 26, 2012 (China Knowledge) - China Eastern Airlines Co Ltd<600115><0670>, the country's third-largest carrier, has announced it will buy 60 A320 airplanes with a total list price of US$5.39 billion.

According to a statement filed with Shanghai Stock Exchange, the air carrier said these 60 airplanes will be delivered between 2014 and 2017.

The company expected the deal will enlarge nearly 12.05% of its airline capacity.

Meanwhile, in another statement, China Eastern Airlines said it will sell 8 CRJ airplanes and 10 EMB airplanes to Airbus SAS.

In the first nine months of this year, China Eastern Airlines saw its operation revenue amount to RMB 65.53 billion, up 3.63% YoY, while its net profit for the period plunged 36.98% YoY to RMB 3.63 billion.

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