The Boeing Company confirmed China made an initial commitment to buy 200 aircraft after United States President Donald Trump’s visit to Beijing, reopening a key market for the US planemaker.
The Boeing China aircraft commitment followed talks in Beijing between Trump and Chinese President Xi Jinping, with Boeing Chief Executive Officer Kelly Ortberg joining the US delegation.
Boeing said the trip achieved its goal of reopening China to orders for Boeing aircraft and added that it expected further commitments after the first tranche.
Trump told Fox News that Xi had committed to “200 Boeings,” and later told reporters aboard Air Force One that a broader commitment could reach 750 planes if the first phase performs well.
China last placed a major Boeing order in 2017, when it agreed to buy 300 single-aisle and wide-body aircraft during Trump’s first White House term.
Aviation intelligence and advisory firm IBA estimated the 200-aircraft order at roughly USD 17 billion to USD 19 billion if 80% of the mix comprises 737 MAX jets. IBA’s Samuel Kenekueyero said the value could rise to USD 25 billion if wide-body aircraft make up about 40% of the order.
The deal could help Boeing narrow the gap with Airbus in China, while Beijing secures capacity as production of its home-grown COMAC C919 falls short of targets.
Boeing shares fell nearly 4% on Thursday and about 2.6% on Friday after the 200-plane figure came in below analyst expectations for a larger order.