China Eastern Airlines said it has finalized an agreement to buy 30 Airbus A320 aircraft for US$1.73 billion.

The company said that new aircraft would be used to meet rising demand for short- and mid-range domestic routes.

The company added that it also believes that its acquisition of the aircraft will further improve its aviation network and enhance its competitiveness in this market segment.

The 30 planes will be delivered between May 2008 and November 2010, the company said.