The total amount for the aircrafts is around 17.7 billion yuan ($2.6 billion), based on the 2007 price catalogue, China Eastern Airlines said in a statement.

The planes are due to be delivered from 2011 to 2014. After they are all delivered, the company's airline capacity will increase 15.22 percent.

The planes China Eastern purchased this time around will be for international medium-and long-haul flights to Australia and the Americas, according to a Chinese Business News report Tuesday citing the airline's marketing department.

According to the report, on one hand, the international expansion of the airline can help it cope with competition from domestic high-speed railways; on the other hand, after China Eastern acquires Shanghai Airlines (SAL), the new China Eastern Airlines can better serve Shanghai as an international transfer hub.

Li Shurong, an aviation analyst with Shenyin Wanguo Securities pointed out that the airline sector is being gradually impacted by the high-speed railway and that air companies should explore medium-and long-haul flights.

According to China Eastern, the money for the purchase of the planes is loans from the banks. From the beginning of this year, many Chinese commercial banks, including the Bank of Construction and the Bank of Communications, have loaned 106 billion yuan to China Eastern.

The introduction of the planes will increase the debt ratio in a short-term, but will not affect the daily cash flow and operations, according to the airline.