Air China to buy 24 planes for $1.74 bn

Air China has signed a deal with Airbus to buy 24 Airbus A320 planes, Shanghai Securities News said. Under the US$1.744 billion deal signed between the two sides on Thursday, the China national carrier will pay Airbus cash in instalments.

The planes are expected to be delivered to China between 2007 and 2010.

Air China said the Airbus A320 airplanes will help upgrade its carrying capacity and cement Beijing’s position as a communications hub.