Boeing Signs $37B Plane Sale Deal with China

Reuters

This was one of several deals that were announced during a state visit by U.S. President Donald Trump to Beijing.

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 USA trade mission to China, and was signed by Kevin McAllister, Boeing commercial airplanes president and chief executive. The full breakdown of the order and the non-binding commitments was not made available. The agreement was signed in Beijing in the presence of President Donald Trump and Chinese President Xi Jinping, where Boeing's representatives were present as part of the USA mission to China.

However, this time it was Boeing who won the $37 billion deal. This order that Boeing has won contains narrow body aircrafts, as well as wide body aircrafts.

The C919 is due to make its first long-distance test flight this Friday, according to Commercial Aircraft Corporation of China (COMAC), the Shanghai-based manufacturer of the jet.

As of October 24, Boeing reported that they have 334 orders from unidentified customers with 290 of them for 737s.

China has a component role on every Boeing commercial aircraft model - the 737, 747, 767, 777 and the 787 - and over 9,000 Boeing aircraft fly worldwide with China-built parts and assemblies. In July, China Aviation Supplies announced it would buy 140 aircraft from Airbus in a deal worth $23 billion.

This big order in China follows Boeing's sale of 39 wide-body jets to Singapore Airlines last month.

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 nearly $37 billion. In 2015, it was one of the three Chinese companies that agreed to buy 300 planes from Boeing when President Xi was in the United States.

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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