Algerian national airline Air Algerie is planning to invest nearly DZD60bn ($763.5m) in acquisition of new aircraft, a move that will upgrade the carrier's fleet.
Air Algerie chairman Mohamed Salah Boultif was quoted by AFP as saying that the company plans to purchase 16 new jets between now and 2017.
The carrier is in final stages of discussions with aircraft makers, with the first delivery expected at the end of December 2014, Boultif told a news conference.
However, the company did not disclose details of the manufacturers.
Under the plan, the state-owned airline will purchase eight aircraft capable of carrying 150 passengers and three jets with a capacity of 250 to replace three Boeing 767s it received in 1990, three smaller ones carrying 70 passengers, as well as two cargo jets with a capacity of 12t-18t.
In November, Airbus signed a memorandum of understanding (MoU) with Air Algerie to deliver three A330-200 aircraft, which have a list price of €216m each.
The carrier's current fleet includes 43 aircraft, and expects to see a revenue rise from DZD65.6bn ($834.7m) in 2012 to DZD67bn ($852.5m) this year, Boultif added.
Last year alone, Air Algerie carried 4.4 million passengers.
It operates international services to 39 destinations in 28 countries, including Europe, North America, Africa, Asia, and the Middle East, and domestic services to 32 airports.
Image: An Air Algérie Boeing 737-600 on short final to Frankfurt Airport in 2012. Photo: courtesy of Konstantin von Wedelstaedt.