Air China has said it will purchase 20 A330 aircraft from Airbus, according to a statement agencies said the carrier issued to the Hong Kong Stock Exchange yesterday. At list prices, the deal will be valued at $3.82 billion.

The airline said it will use cash, bank loans and debt instruments to pay for the aircraft, which will boost capacity by 16.5 per cent. The additions will also allow it to increase flight frequencies from Beijing.

Airbus is yet to confirm the order and there is no indication of likely delivery dates.