Air China Buys 45 Boeing Jets

Purchase is one of carrier's biggest buys ever
By Newser Editors and Wire Services
Posted Jul 16, 2008 8:00 AM CDT
Air China Buys 45 Boeing Jets
Airport ground crew members refuel and unload passenger luggage on an Air China plane parked at the Beijing International Airport in Beijing, China.   (AP Photo/Andy Wong)

Air China plans to buy 45 Boeing 777 and 737 aircraft, reports the AP, a purchase the airline says will increase its capacity by about 35% and help reinforce Beijing's status as a transportation hub. The list price for the planes—one of China's biggest airliner purchases—is $6.3 billion, but the final price is expected to be lower.

Air travel in China is forecast to grow by 9% annually in coming years, driven by a boom that saw the country's economy grow by 10.6% in the first quarter. Air China's first-quarter profits jumped 147%, boosted by the travel boom and the rise of  the yuan. Boeing has not confirmed the deal. (More China stories.)

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