Air China, the country's leading carrier, and its subsidiary Shenzhen Airlines have signed deals to buy a total of 100 Airbus 320-series planes for 8.85 billion US dollars, Air China said Friday in a statement to the Hong Kong stock exchange.

According to the statement, Air China, listed both in Hong Kong and Shanghai, agreed to buy 60 Airbus 320-series aircraft for 5.37 billion US dollars, which would be paid by cash in installments. It expects to take delivery of the 60 planes in stages from 2014 to 2020.

Its subsidiary Shenzhen Airlines agreed to buy 40 Airbus 320- series planes for 3.48 billion US dollars, which would also be paid by cash in installments. The 40 planes are expected to be delivered in stages from 2016 to 2020.