(Yicai) Oct. 28 -- Air China Cargo plans to order 10 Airbus A350F freighters, becoming the first Chinese mainland airline to acquire the new-generation jets that can carry oversized cargo without the need for disassembly and underscoring its commitment to expanding its long-haul operations.

Air China Cargo will sign a purchase agreement with Airbus for six A350F with an option to buy four more, contingent upon confirmation by the end of next year, the flag carrier’s cargo arm said late yesterday. The new aircraft will likely be delivered between 2029 and 2031, it added.

The A350F freighter, which has yet to start commercial operations, has a load capacity of 111 tons and a range of 8,700 kilometers, making it suitable for major intercontinental cargo markets.

Each A350F aircraft is listed at USD465 million, but the actual price for this deal will be lower because the European plane maker will offer a significant discount, Air China Cargo pointed out.

Air China Cargo mainly uses Boeing B777 and B747 planes for long-haul European and American markets, and Airbus A330 aircraft for medium-to-long-haul markets, senior executives said on the Shenzhen Stock Exchange's investor interaction platform last month. It is also promoting the conversion of A330 passenger jets into freighters, they added.

The A350F deal will help Air China Cargo build a large and medium-sized fleet that meets market and customer needs and is conducive to its long-term stable operation, the Beijing-based company said.

On the same day, Air China Cargo reported a 36 percent jump in third-quarter net profit to CNY596 million (USD83.8 million) from a year earlier, mainly thanks to fleet expansion, synergy between its major business segments, and the recovery in global demand. Operating revenue rose 8.4 percent to CNY5.7 billion (USD801.4 million).

For the first nine months of this year, profit surged 66 percent to around CNY1.8 billion, while revenue jumped 17 percent to about CNY16.6 billion.

Shares of Air China Cargo [SHE: 001391], which went public in Shenzhen last December, ended flat today at CNY6.59 (93 US cents) each.

Editor: Martin Kadiev