China Eastern buys 20 Boeing 777s worth $6 billion

China Eastern Airlines says it’s buying 20 Boeing 777 jets worth nearly $6 billion while also selling five Airbus A340s worth $708 million to the US planemaker.

By (AP)

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Published: Mon 30 Apr 2012, 4:47 PM

Last updated: Tue 7 Apr 2015, 11:07 AM

The Shanghai-based airline said Monday it’s selling the Airbus A340-600 airplanes to Boeing because they have high operating costs and “relatively weak route competitiveness.”

The Airbus jets are about 8.3 years old, on average, and fly long-haul routes to New York and Los Angeles.

China Eastern said list price of the 777-300ERs is $5.94 billion but it negotiated a discount. Airlines routinely get discounts from aircraft makers, and the final selling price for aircraft is rarely disclosed.

Boeing said last week the deal needs Chinese government approval.


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