China Eastern Airlines said on Monday it had agreed to buy 16 Airbus A330 planes, giving a boost to the European planemaker as companies compete to gain a foothold in the fast-growing market.

China Eastern said in a statement the average basic price of the aircraft in total was around USD$2.6 billion, based on the relevant price list in 2007. It added the planes were due to be delivered from 2011 to 2014.

Both Airbus and its US rival Boeing have been working hard to secure orders in China, where demand for planes is set to increase as the country's economy continues to grow.

Airbus's latest Chinese order comes a week after the CFM International aero-engines joint venture of French group Safran and its US partner General Electric won a multi-billion dollar deal to supply engines for China's future C919 plane.

EADS shares have risen around 13 percent since the start of 2009, having fallen 45 percent last year.