An executive from China Southern Airlines Co Ltd confirmed Tuesday that the airline will order five 555-seat Airbus A380 aircraft later this week.

In a telephone interview, Yang Defeng said the contract will be signed on Friday in Paris.

Another company insider said Liu Shaoyong, chairman of China Southern Airlines, will be present at the contract signing ceremony.

According to a Bloomberg report, the massive transaction will be worth some US$1.4 billion according to catalogue prices.

The purchase of the five A380 aircraft will have a strategic significance for the development of China Southern, Yang said, but the aircraft will not be available for several years.

He said that the jumbo aircraft will be primarily used for international air routes, and the company will probably officially announce the big deal soon, but did not elaborate.

China Southern will become the first Chinese airline company to order Airbus A380 aircraft, following Singapore Airlines, Deutsche Lufthansa, Emirates, Air France-KLM Group, Virgin Atlantic Airways and Korean Air.

Source: China Daily