Shandong Airlines sells four 737-300s to China Postal Airlines

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Shandong Airlines will sell four Boeing 737-300s to China Postal Airlines, down from the five it had announced it would sell in May.

In a disclosure to the Shenzhen Stock Exchange, the carrier says that one of the 737s, MSN 29315, had been damaged and has instead been written off by its insurance company.

Flightglobal’s Ascend Online Fleets database shows that the aircraft was last parked in Jinan, China and is understood to have been damaged while it was being converted to a freighter.

The airline will still sell four other 737s – MSNs 28156, 28157, 28158 and 29316, to China Postal Airlines. The aircraft are between 15 and 17 years old.

These jets are scheduled to be delivered between September 2013 and June 2014, the carrier adds.

The airline did not disclose the total amount of the transaction, but noted that the transaction price is more than the average market price of $5.11 million.

Shandong Airlines announced in April that it would accelerate the retirement of its 737-300s, and instead take delivery of 15 -800s this year through a combination of direct acquisitions and leases.

Ascend Online Fleets database shows that Shandong Airlines has an operational fleet of 73 aircraft, and has 14 on order. It also shows that China Postal Air has a fleet of 18 737s, of which 16 are dedicated freighters, while the remaining two are quick-change configured 737-300s.