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NOVEMBER 2017

Week 46

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China confirms 300 Boeing aircraft order during Trump visit

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November 10th 2017

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China Aviation Suppliers Holding Company (CASC) on Thursday signed an agreement for 300 Boeing aircraft at a ceremony in Beijing. Read More » The deal was sealed during a U.S. trade mission to China lead by U.S. president Trump. It was signed by Boeing Commercial Airplanes president and CEO, Kevin McAllister, in the presence of the U.S. leader and Chinese President, Xi Jinping.

The contract is for 300 single and twin-aisle airplanes, Boeing said, and was valued at more than US$37 billion at list prices.

“China is a valued customer and key partner, and we're proud that Boeing airplanes will be a part of its fleet growth for years to come,” said McAllister. “Boeing and China have a strong history of working together, based on great mutual respect, and these orders build on that foundation.”

CASC is a government arm that specializes in the import and export of civil aviation products. In particular, the group is responsible for ordering and distributing aircraft to China's state-controlled carriers.

Boeing is repaying China’s continued investment in the Seattle-headquartered OEM with a B737 completion centre in Zhoushan, an island off the coast of Zhejiang province.

On a related note, China’s CDB Leasing this week finalized orders for 42 B737 MAX 8s, ten B737 MAX 10s and eight B787-9s, previously announced as a Memorandum of Understanding at the 2017 Paris Air Show. The order includes a conversion of six 737 MAX 8 orders to the 737 MAX 10. The total order has a list value of US$7.4 billion.

"Being one of the launch customers of the MAX 10 and bringing the MAX family's orders to over the 4,000 milestone further demonstrates CDB Aviation's steadfast efforts to advance its global mission and deliver the latest technology aircraft to current and prospective customers," said CDB Aviation president and CEO, Peter Chang. "We're confident that the reliability, efficiency and superior economics of the MAX and Dreamliner families will be very appealing to our customers.”

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