HONG KONG - Air China, China's leading carrier listed in Hong Kong, said late Friday that it would pay $1.398 billion to buy 20 Boeing 737-800 planes. In a statement filed to the HK stock exchange, the carrier said the cost would be "payable by cash in installments" and it would "take delivery of the Boeing Aircraft in stages from 2013 to 2015."
"The aircraft price is subject to price escalation by applying a formula. Boeing Company has granted to the Company (Air China) significant price concessions with regard to the Boeing Aircraft," said the statement. The transaction will be funded through cash generated from......
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