Air China to purchase four B777-300ERs with 'significant' price concessions

Air China announced (10-Sep-2010) the purchase of four B777-300ER aircraft from Boeing, for delivery in stages from mid-2013 to mid-2014. The carrier stated the base price of the aircraft is approximately USD1,150 million, although Air China added: "Boeing Company has granted to the company significant price concessions with regard to the Boeing aircraft." The aircraft will be funded through cash generated from the company's business operations, commercial bank loans and other financing instruments of the company. The new aircraft will expand the carrier's capacity by approximately 4%, not taking into account the adjustments that may be made to the fleet based on marketing condition and the ageing of the fleet, and based on 31-Dec-2009 levels. Air China has agreed to purchase approximately USD5.7 billion of aircraft from Boeing over the past 12 months [more]