Xiamen Airlines to expand air freight business

China Southern Airlines said its subsidiary, Xiamen Airlines, has signed a US$699 million aircraft purchase agreement with Boeing.
Xiamen Airlines will acquire 10 planes of the 737 series from Boeing to meet its business expansion needs, Global Times reported.
By the end of 2010, Xiamen Airlines will have more than 70 aircraft and the number is expected to reach 130 by 2015.
Xiamen Airlines was established in 1984 and  is the first privately-owned airline in China. China Southern Airlines holds 60% of the company while Xiamen Construction and Development Group owns the remaining 40%.