Boeing, China Announce Airplane Sales During Presidential Trade Mission

Jon Howard
November 12, 2017

In July, the company agreed to buy 140 Airbus jets in a deal worth $23 billion when Chinese President Xi Jinping visited Germany.

The deals included an engine and fix deal for GEnx-1B engines from Juneyao Airlines Co Ltd worth $1.4 billion at list prices, and another $1.1 billion order for 80 Leap-1B engines to power 40 Boeing 737 MAX Aircraft from ICBC Leasing, the leasing arm of state bank Industrial and Commercial Bank of China Ltd, GE said.

Boeing Commercial Airplanes president and CEO Kevin McAllister described China as "a valued customer and a key partner".

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

China Aviation Supplies leases planes to Chinese airlines. "Boeing and China have a strong history of working together based on great mutual respect, and these orders build on that foundation".

Analysts said that part of the order might be amongst the more than 300 planes from buyers who were undisclosed that were posted during the year and that it was not yet known how much of the deal in China was new business.

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The deals may provide some comfort to both Airbus and Boeing, as China continues to invest heavily in developing its own aviation industry.

Boeing's latest signing in China follows an order for 39 wide-body jets from Singapore Airlines last month.

This is not the first time China Aviation Supplies has been involved with large deals during previous government exchanges. In May this year, the first Chinese-built passenger jet, the twin-engine C919, made its maiden flight from here at Shanghai's Pudong global airport.

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.

The single-aisle jet is created to compete with the Boeing 737 and the Airbus A320.

Content published by Professional Engineering does not necessarily represent the views of the Institution of Mechanical Engineers.

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