Shenzhen Airlines has signed a purchase agreement for 46 737 models, Air China said in a filing with the Shanghai stock exchange on Wednesday.
Jets in the 737 family usually go for between $78.3 million and $113.3 million, Bloomberg added.
The planes will be delivered to the airline over the course of five years beginning in 2016.
Boeing is a Chicago, IL.-based aerospace company that operates in five segments. The company produces aircrafts for commercial and military use and also operates in the defense sector.
Shares of Boeing are up slightly by 0.11% to $143.41 at the start of trading on Wednesday morning.
Separately, TheStreet Ratings team rates BOEING CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate BOEING CO (BA) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, impressive record of earnings per share growth, compelling growth in net income and increase in stock price during the past year. We feel its strengths outweigh the fact that the company shows low profit margins."
Highlights from the analysis by TheStreet Ratings Team goes as follows: