Chinese carrier Xiamen Airlines is to purchase 10 Boeing 737 aircraft, for delivery over the course of 2015-16.

Xiamen Airlines' purchase has been disclosed by majority shareholder China Southern Airlines.

In a statement, China Southern says the aircraft are worth $699 million at catalogue prices. All 737 aircraft are powered by CFM International CFM56 engines.

China Southern says the twin-jets' acquisition will be funded partly by internal Xiamen Airlines resources, and partly by commercial loans - although it adds that no agreements have yet been reached with any banks on the finance.

Acquisition of the aircraft, it states, will increase the group fleet capacity by 2.3%, compared with the end of 2009.

Source: Air Transport Intelligence news