China Airlines is selling four of its Boeing 747-400 freighters, with two of the aircraft being picked up by Cargolux.
In a stock exchange announcement, the carrier announced it had approved a plan to acquire up to 18 Airbus and Boeing passenger and freighter aircraft and dispose of the four 747-400Fs.
The announcement discloses that the airline will purchase five Airbus A350-1000s and five Boeing 777-9s, plus four 777-8Fs and two 777Fs.
It is considering introducing a further two 777Fs, in order to “replace ageing aircraft and improve operational efficiency”.
At present, China Airlines’ freighter fleet consists of eight 747-400Fs and 10 777Fs, according to its website.
As part of the modernisation, it will divest four 747-400Fs, disclosing that the first pair will be sold to Luxembourg freight carrier Cargolux.
The Taiwanese airline says the other two 747-400Fs are “still under commercial negotiation” and transaction terms have yet to be finalised.
China Airlines values the proceeds from the first two aircraft at around $260m.
The airline revealed last year that it was selling a batch of five 747-400Fs to Air Atlanta Icelandic and Asiana Airlines.