Boeing Wins $38B in Orders From China, Welcomes President
Joe Cortez September 25, 2015
Chinese President Xi Jinping (L) shakes hands with Dennis Muilenburg, president and CEO of the Boeing Company, after Xi's tour of the Boeing factory in Everett, Washington September 23, 2015. REUTERS/Mark Ralston/Pool
China has placed firm orders for 300 aircraft from Boeing, a deal which coincides with the Chinese president’s visit to the U.S.
Boeing’s production lines will stay busy as the aircraft manufacturer prepares to complete $38 billion in orders and commitments secured by China’s aviation industry for 300 aircraft. The total package will include 250 737s and 50 unspecified wide-body aircraft to be delivered to Chinese airlines and leasing companies.
The announcement comes after Chinese President Xi Jinping made a stop on his American tour at the Seattle aircraft factory. During his time there, President Xi toured the finishing lines of Boeing’s flagship wide-body aircraft and met with several employees at the factory, including the chief pilot of the 787 Dreamliner program.
“Today’s visit by President Xi represents a new chapter in the valuable relationship between Boeing and China,” said Dennis Muilenburg, president and CEO of Boeing. “Boeing is committed to further strengthening and deepening our partnership with China in mutually beneficial ways that will bring positive outcomes to Boeing and our Chinese partners.”
In addition to the aircraft order, Boeing signed a memorandum of understanding with China’s National Development Reform Commission. Under the agreement, Boeing has committed to cooperating with the NDRC, including developing new eco-friendly technologies alongside China and improving the overall safety of the Chinese commercial aviation industry. Boeing will also open a 737 finishing center in China, to complete and deliver aircraft ordered by Chinese airlines and leasing companies.
“Boeing airplanes have played an important role in supporting the development of China’s aviation transportation for the past 40 years,” said Li Hai, president of China Aviation Supplies Holding Company. “These additional airplanes will further help connect the people in China and around the world.”
The investment marks the second time this year Boeing has secured a major foreign order for aircraft. At the Paris Air Show, Boeing announced an order of 25 747 aircraft from a Russian firm, keeping the program alive despite a production slowdown.
[Photo: Reuters]
