Spring Air Agrees 60 Jet Airbus Deal

Spring Airlines has signed an agreement to buy 60 Airbus A320neo-family jets, worth USD$6.3 billion at list prices, to meet surging Chinese demand for air travel.

The order, comprising 45 A320neo and 15 A321neo planes, extends Airbus's lead against Boeing for the fast-growing upgraded narrow-body aircraft segment.

Chinese airlines are expanding their fleet as the number of people travelling within China and internationally is set to triple over the next two years.

The aircraft, scheduled to be delivered from 2019 to 2023, is set to expand Spring Air's capacity by 158 percent, the company said in a stock exchange filing.

"It will also improve the overall fuel efficiency of our fleet and help us break into new markets," a company spokesman said.