China Eastern orders 50 Airbus planes

China Eastern Airlines, the country’s third most valuable airline, has agreed to buy 50 Airbus A320 aircraft.

The new aircraft were valued at US$3.224 billion based on the catalogue price in 2005, though they will be sold to the company with significant price concessions granted by Airbus, China Eastern said on Thursday.

Calgary Herald reported that increasing leisure and business travel in China and the international market has helped regional airlines such as China Eastern to report bumper quarterly profits this year.

This has fuelled a buying spree among airlines in the region, including China Eastern’s rivals Air China, China Southern Airlines and Cathay Pacific.