LONDON - Low-cost Chinese carrier Ruili Airlines is buying six 787-9 Dreamliners from Boeing (BA) in a deal that is valued at $1.59 billion at current list prices.
The purchase, confirmed Wednesday at the Farnborough International Airshow in southern England, is part of Ruili's strategy to make its base in the Yunnan province the gateway from southwest China to rest of the world.
Ma Zhanwei, the chairman of Ruili Airlines said in a statement that the planes are the right size and have the long range to "make it an ideal fit in facilitating our international expansion plans."
The carrier was established in February 2014 and operates nine Boeing 737 airplanes on 16 domestic routes with 46 daily departures.
It plans to expand its fleet to 70 airplanes by the end of 2025.