China Eastern Airlines announces purchase of 50 737s, delivery from 2017 to 2019

China Eastern Airlines Corporation entered (09-Jul-2015) into a purchase agreement with Boeing for 50 new CFM-powered 737 series aircraft. The base price of the order is approximately USD4.555 billion although discounts were obtained. The aircraft are expected to be delivered to the company in stages from 2017 to 2019, with 10 expected to be delivered in 2017; 25 in 2018; and the remaining 15 delivered in 2019. The aircraft will be operated by China United Airlines, a wholly-owned subsidiary of the company, and other branches and subsidiaries. China Eastern Airlines commented: "Without considering the adjustments to be made to the aircraft fleet of the Company as a result of the market conditions and the age of the aircraft, the Acquisition will increase the ATKs of the Company by approximately 6.16% (based on the ATKs of the Company as at 31 December 2014)". It also noted that the consideration is contemplated to be funded through bank loans from commercial banks. The order will be posted on Boeing's Orders & Deliveries website once all contingencies are cleared. [more - original PR - China Eastern] [more - original PR - Boeing]