China Buys 300 Planes Worth $37 Billion from Boeing Co

Trump evades China’s ‘Great Firewall’ to tweet about Beijing trip

The deal is part of a large set of sales announced recently during President Donald Trump's state visit to Beijing earlier this year.

China Aviation Supplies Holiday Company, the state-owned firm which does big orders for local airlines, signed the deal during a ceremony today, as part of the U.S. trade mission to China, and was signed by Kevin McAllister, Boeing commercial airplanes president and chief executive.

The agreement includes orders and commitments for 300 Boeing single-aisle and twin-aisle airplanes.

"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", said McAllister. However, Reuters reports that it is not clear how many planes will be new business, as the deal may also cover 334 orders from undisclosed customers that purchased aircraft during this year.

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Boeing has secured a $37bn (£28bn) deal for China to buy 300 of its aircraft as the country looks to cater for rising demand by picking up new planes. The order includes 100 Airbus narrow body models for the A320, and 40 wide body A350s.

Separately on Thursday, Boeing said it had received orders for 42 B-737 MAX jets and 10 B-787-9 Dreamliners from CDB Aviation, a unit of China Development Bank Financial Leasing Co (1606.HK). According to the catalog price, the order is worth a total value of 245.347 billion yuan (US$37 billion). In October, it said it would purchase 39 wide-body jets from Singapore Airlines.

China's owned aircraft fleet is now equally split between Boeing and Airbus, but going by order book trends, Boeing seems to have gained a big lead in terms of the number of aircraft orders from China, said Corrine Png, chief executive of transport research firm Crucial Perspective. In July, China Aviation Supplies announced it would buy 140 aircraft from Airbus in a deal worth $23 billion. The announcement of that deal was made during a visit to Germany by Xi Jinping the President of China.

A GE spokesperson said its engine orders were new, and deferred to Boeing on how much of aircraft order was new.

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