Home News China Buys 300 Planes Worth $37 Billion from Boeing Co.

China Buys 300 Planes Worth $37 Billion from Boeing Co.

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On Wednesday, Boeing Co. confirmed that they’ve won the Chinese deal according to which they will be selling three hundred planes to China, worth almost $37 billion. This order that Boeing has won contains narrow body aircrafts, as well as wide body aircrafts. The deal that was signed by China on Thursday is actually a part of a multi-million dollar agreement which was announced and signed between China Aviation Suppliers Holding Company and Kevin McAllister, president and CEO of Boeing Commercial Airplanes, when President Donald Trump visited China and met with Xi Jinping. China Aviation Suppliers Holding Co (CASC) had agreed to buy the single-aisle and twin-aisle aircraft which was a part of the $250 billion deal.

For Chinese deals, Boeing, an US based aerospace company has had to compete with their immediate rivals, Airbus, the European giants. However, this time it was Boeing who won the $37 billion deal. China is the second largest market for aircrafts in the world, and now that market will mostly be controlled by Boeing.

China Aviation Supplies, a state run service that leases aircrafts to most airlines in China and works alongside other companies to finalize any deal made by China on aviation machinery, have recently confirmed that the order that Boeing has won will consist of 40 B777s and B787s, along with 260 B737s.

On the deal, McAllister has said that, “China is a valued customer and key partner, and we’re proud that Boeing airplanes will be a part of its fleet growth for years to come. “Boeing and China have a strong history of working together based on great mutual respect, and these orders build on that foundation.” Records show that Boeing has in fact sold 155 aircrafts to China last year, and this year already a quarter of their jet planes have been sold to Chinese customers. If this continues, then it can be predicted, the China might over throw US as the largest aircraft market in the recent years, with an almost $950 billion commitment for an additional 6330 airplanes.

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