China Eastern Airlines to purchase 50 jets from Airbus

HONG KONG — China Eastern Airlines says it is buying 50 new Airbus A320 jets to meet increasing demand for its domestic and international air services.

The Shanghai-based airline says that while the entire deal is worth $3.2 billion according to 2005 list prices, it is getting "significant price concessions" from Toulouse, France-based Airbus that it wouldn't reveal.

The aircraft will be delivered in phases from 2012 to 2015. The airline says the new planes will boost total capacity, as well as that of subsidiary Shanghai Airlines, by 11 percent.