The Latest: EgyptAir expands fleet with 9 new Boeing 737s

Financing for eight of the airplanes being purchased will be provided by Dubai Aerospace Enterprise based in the United Arab Emirates.

The purchase, confirmed Wednesday at the Farnborough International Airshow in southern England, is part of Ruili's strategy to make its base in the Yunnan province the gateway from southwest China to rest of the world.

Ma Zhanwei, the chairman of Ruili Airlines said in a statement that the planes are the right size and have the long range to "make it an ideal fit in facilitating our international expansion plans."