Chinese regional carrier Shanghai Airlines Co Ltd said on August 31 that its board had approved the order of five A321 jets from Airbus with a total list price of $370 million. The jets will be delivered between 2011 and 2012, the carrier said in a statement. It did not specify the actual price of the deal.
The purchase, aimed at expanding the firm's fleet and reducing costs, will be financed with the company's own funds and bank loans, Shanghai Airlines said.