Air China to buy 4 Boeing 777s at 'significant' discount

Air China Ltd. the world's largest carrier by market value, said it will buy four Boeing Co. 777- 300ER planes for a "significant" discount to the $1.15 billion list price.

The airline will take delivery of the aircraft in 2013 and 2014, it said in filings to the Hong Kong and Shanghai stock exchanges yesterday. Air China said it has agreed to buy about $5.74 billion of planes from Boeing over the past 12 months.

Air China, part-owned by Cathay Pacific Airways Ltd., said last month that the number of passengers the group carried increased 35 percent in the first half on a bigger fleet and rising demand. This year will be "great" for airlines worldwide, International Air Transport Association Chief Executive Officer Giovanni Bisignani said last month.

Jim Proulx, a spokesman for Chicago-based Boeing, said in an e-mail that the four Air China plane orders were new and not previously reported by the aircraft manufacturer.

Beijing-based Air China said that while it agreed to purchase the planes for less than list price, it will seek a Hong Kong stock exchange waiver from having to disclose the exact amount.

Last month, the airline said it switched its order for 15 Boeing 787-8 aircraft to the same number of 787-9 planes, with a list value of $3.19 billion.