Shandong Airlines has placed an order for 50 Boeing 737 aircraft, in a deal worth $4.65 billion at list price.

The order, part of the carrier's 13th five-year plan, comprises of 34 737 Max aircraft and 16 737-800s, says the carrier in a disclosure on the Shenzhen Stock Exchange. The aircraft are scheduled to be delivered between 2016 and 2020, it adds.

The Chinese carrier says it will use cashflow from its operations, bank loans and other funding options to finance the aircraft purchase.

It adds that the purchase will help the carrier increase its capacity to meet future demand. The 737 Max aircraft will be equipped with CFM International Leap-1B engines.

Flightglobal’s Ascend Fleets database shows that Shandong Airlines has 67 737s and seven Bombardier CRJs in its fleet.

Shandong Aviation Group, a conglomerate based in Shandong city, owns 42% of the airline while Air China has a 22.8% stake.

Source: Cirium Dashboard