Air China agrees to purchase 20 737-800s

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Air China has agreed to purchase 20 Boeing 737-800s which will be delivered from 2013 to 2015.

The Chinese flag-carrier has detailed the agreement in a statement to the Hong Kong stock exchange.

It says the base price of the aircraft is almost $1.4 billion, although it adds that Boeing has granted "significant price concessions" for the jets.

The airline says these concessions are "comparable" to those which Air China obtained in a previous Boeing aircraft purchase agreement detailed in July 2008.

All 737-800s are powered by CFM International CFM56 engines.

Air China says it entered the purchase agreement today along with wholly-owned import and export subsidiary AIE.

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