Boeing has received final approval from the Chinese Government confirming a $19 billion purchase agreement for 200 aircraft.
Many if not all of the aircraft concerned appear to be the subjects of existing orders by Chinese carriers.
“Chinese government approval provides the necessary authority for our airline customers to continue purchase payments and take delivery of the aircraft,” a Boeing spokesman writes in an e-mail to www.AirlinesAndDestinations.com. “These approvals cover orders reflected on Boeing’s web site, which include a combination of identified customers and unidentified customers. The identified customers include Air China, China Southern and Xiamen Airlines.”
The agreement signed by the Chinese government formed part of a U.S.-China trade deal signed in Washington D.C. at a January 19 meeting between Presidents Hu and Barack Obama at the White House. Boeing Commercial Airplanes President Jim Albaugh was present at the signing of the trade deal.
China’s approval of airline contracts for 200 orders covers aircraft to be delivered over a three-year period from 2011 to 2013. According to Boeing, the Chinese government approval covers 185 737s worth approximately $15 billion at list prices and 15 777s worth approximately $4 billion at list prices.
The Boeing Company says the approval helps it maintain and expand its market share in the world’s fastest-growing commercial aircraft market.
Boeing says the agreement positively impacts more than 100,000 jobs including those at Boeing and at thousands of the company’s suppliers throughout the U.S.
“We value China’s support for our products and its confidence in Boeing,” says Jim Albaugh, president and CEO, Boeing Commercial Airplanes. “With the outstanding support provided by the United States Government, this deal is a win-win for the Boeing-China partnership, which is approaching its 40th anniversary.”
The company says more than 50 per cent of all commercial jetliners operating today in China are Boeing aircraft. Over the next 20 years, Boeing projects that China will need 4,330 new commercial jets, worth more than $480 billion, and that the world’s most populous nation will be Boeing’s largest commercial-aircraft customer.