China Approves Order For 200 Boeing Airliners
A standing order for 200 Boeing commercial aircraft worth $19 billion has been approved by the Chinese government, paving the way for delivery to begin later this year. The deal includes 185 Boeing 737 and 15 Boeing 777 jets. Large international orders like this one are sometimes part of a broader relationship and Boeing has recent history with China. In 2005, Boeing announced it would buy $600 million worth of Chinese-made aircraft components and the company has contracted with Chinese manufacturers to produce certain parts for the 787 Dreamliner. This year, the White House said that Boeing, Honeywell International and Pratt & Whitney will be providing Air China with technical support to begin biofuel flights, according to Marketwatch.com. China is expected to represent a growing market for aviation businesses. Boeing isn't the only major manufacturer seeking inroads.
GE has announced a joint venture that will develop avionics systems for the civil aviation market, targeting "a $2 billion slice of that market," according to Bloomberg news. As of December, Airbus had delivered 738 aircraft to the Chinese market. Boeing had delivered 662. China is expected to purchase more than 4,300 commercial aircraft through 2030. Boeing expects China to become its largest customer.