SHANGHAI - China's Shandong Airlines Co Ltd plans to buy 15 Boeing Co B737-800 aircraft worth up to $1.2 billion, Reuters reported Friday.

According to a company statement, the purchases will be funded by business revenue and bank loans, with the aircraft to be delivered between 2014 and 2015.

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The carrier said the aircraft had a catalogue price of $75 million to $80 million each, the report said.