China Eastern Airlines is to acquire 60 Airbus A320s and sell a batch of regional jets to the airframer as part of the agreement.
The Chinese carrier says the transaction involves a purchase agreement for 60 A320s, worth $5.4 billion at catalogue prices.
These will be delivered to the airline in stages from 2014 to 2017. No engine selection has been given.
But the carrier also says that it will dispose of eight Bombardier CRJs and 10 Embraer regional jets to Airbus. While the airline does not specify the types, China Eastern's fleet includes the CRJ200 and ERJ-145.
It says the regional jets were delivered to China Eastern over 2000 to 2007. The unaudited book value of the jets is around 1.5 billion yuan ($240 million), the carrier adds.
China Eastern will deliver the aircraft to Airbus over the course of 2014 to 2016.