Boeing announces Chinese order of 300 planes worth $38 billion

Aircraft manufacturer Boeing has secured orders and commitments from China for 300 planes worth approximately $38 billion at list prices.

Boeing made the announcement as Chinese President Xi Jinping visited the company's widebody commercial airplane factory in Everett, Washington, as part of a state visit to the United States.

The aircraft manufacturer said it signed a general terms agreement with China Aviation Supplies Holding Company (CASC), which is a Chinese government entity responsible for ordering and distributing aircraft for China's airlines. The agreement includes 240 airplanes destined for Chinese airlines, including 190 Boeing 737s and 50 widebody aircraft. It also includes 60 Boeing 737s for leasing companies ICBC and CDB Leasing.

"Boeing airplanes have played an important role in supporting the development of China's aviation transportation for the past 40 years. These additional airplanes will further help connect the people in China and around the world," said Li Hai, president of China Aviation Supplies Holding Company.

Boeing said the 300 planes have a value of approximately $38 billion at list prices, but aircraft manufacturers usually provide significant discounts. Boeing has also not disclosed how many of the planes had previously been ordered, leaving uncertainty about the total value of the deal.

(Copyright 2015 by BNO News B.V. All rights reserved. Info: sales@bnonews.com.)

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