China Eastern Airlines will divide its $10 billion worth of orders between Europe's Airbus and US' Boeing as the Asian airline dispatches old units and adds new long-haul flights, Bloomberg reported.

China's second largest carrier announced that it agreed to purchase 20 Airbus A350-900s and 15 Boeing 787-92 valued at $6.16 billion and $3.97 billion, respectively.

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The company announced in a Hong Kong Stock Exchange filing that it aims to satisfy its customers' long-haul needs by 2025. Furthermore, as part of this restructuring program, China Eastern will retire six Boeing 767s and 12 Airbus A330s in the next four years.

"The addition of these next-generation, fuel-efficient airplanes will play a key role in supporting China Eastern's strategy for international expansion, and enable us to realize profits in point-to-point routes across the Pacific Ocean, and between China and Europe," Liu Shaoyong, China Eastern chairman, said.

The company aims to add bigger planes on its lineup to stabilize growth and offer cheaper ticket prices. It also targets to boost international capacity by 20 percent this year.

China Eastern will welcome its 20 A350-900s between 2018 and 2022. According to ATW Online, two will be in 2018, three for 2019, two in 2020, six in 2021 and seven in 2022. While delivery of the 787-9s will occur between 2018 and 2021, where four units will be debuted in 2018, six in 2019, three in 2020 and two in 2021.

Currently, China Eastern has over 560 airplanes and carries about 100 million passengers across the globe every year. The Chinese firm plans to increase its fleet to 800 units over the next four years.

Both Boeing and Airbus are on tough competition for orders in China, as experts believe the country will soon be the home to about 1.7 billion air passengers by 2034 and the world's biggest civil aviation market over the next 20 years.

TagsChina Eastern Airlines, Boeing, Airbus, dreamliner, airplane, aviation industry