GE signs $3.5B worth of deals in China

Reuters

Reuters

Chinese state television also reported that US planemaker Boeing had signed $37 billion in commercial deals in China as part of Trump's visit.

China Aviation Supplies, a state run service that leases aircrafts to most airlines in China and works alongside other companies to finalize any deal made by China on aviation machinery, have recently confirmed that the order that Boeing has won will consist of 40 B777s and B787s, along with 260 B737s.

"China is a valued customer and key partner, and we are proud that Boeing airplanes will be a part of its fleet growth for years to come", said Kevin McAllister, president and CEO of Boeing Commercial Airplanes.

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

The latest signing by Boeing in China comes after an order received last month by Singapore Airlines to purchase 39 wide body aircraft from the USA based company.

Chinese airlines are looking to increase capacity after projections have the country to soon overtake the United States as the world's largest aviation market by passenger numbers.

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. Of these, 290 were for the 737.

China Aviation Supplies has also played a prominent role in deals announced 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. The majority of these airplanes are expected to be single aisle. Back then, Chinese aviation industry expert Gu Bin was quoted as saying that the aircraft would "rip a hole" in the market dominance of Airbus and Boeing.

COMAC says that it has received orders for 730 C919 planes from 27 domestic and global clients.

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