Chinese airlines bringing huge business to Boeing

Chinese airlines bringing huge business to Boeing

Their European rivals Airbus managed to steal the show at the recently concluded Paris Air Show. However, Boeing is bouncing back slowing and the latest news in is that the airline manufacturer has gained huge orders from various Chinese Airline companies. Boeing would now be supplying 42 of its new 787 Dreamliner planes to four Chinese airlines in a deal worth $5 Billion.

The talks were on since the month of January with the original deal being of around 60 planes. The four airline companies included in the talks are Air China, China Eastern Airlines, Shanghai Airlines, and Xiamen Airlines. Boeing starts the production sometime next year with the first of the 42 deliveries expected to ship by 2008.

The airline manufacturer is also in talks with two other airline companies in china including Hainan Airlines and China Southern Airlines and this deal could bring it the business for around another 12 planes. Boeing said in a statement: “Today’s signing is a major step forward in bringing the revolutionary 787 Dreamliner airplanes to China. It marks a new era of Boeing-China cooperation reinforcing Boeing as the long-term aviation partner of China.”

China is one of the fastest growing airline markets in the world with 121 million passengers in 2004, 16% higher than the previous year. The airlines in the country have to buy new planes to support the extra load they are receiving since the last couple of years. This is indeed good news for Boeing.