Approval by the Chinese government is pending.

"Air China has been operating 747s since the 1980s," He Li, vice president of Air China, said in a statement. "The new, high-capacity Boeing 747-8 Intercontinental will deliver exceptional economics and a great flying experience to our customers."

In addition to a new wing design and an upgraded flight deck, the new planes also feature low-emission engines and a 26 percent increase in cargo volume.

Using 787-technology GEnx-2B engines, the airplane will be quieter, produce lower emissions and achieve better fuel economy than any competing jetliner. It also increases cargo volume by 26 percent.