Boeing shares fell more than 4% after U.S. President Donald Trump said China agreed to buy 200 jets from The Boeing Company (NYSE: BA), below earlier expectations of about 500 aircraft.
Trump made the remarks after meeting Chinese President Xi Jinping on Thursday, telling Fox News that Xi had agreed to order “200 big ones.” The aircraft type and delivery schedule remain unclear.
The planemaker’s stock dropped 4.1% during market trading after the announcement.
Earlier reports had suggested U.S. and Chinese officials were discussing a potential sale of about 500 Boeing jets. The lower figure raised concerns over Boeing’s ability to rebuild aircraft orders from China, one of the world’s largest aviation markets.
Read: Boeing China Aircraft Deal Opens With 200 Jets
Reuters reported that Chinese buyers placed an average of 127 Boeing aircraft orders per year from 2005 to 2017. The average fell to 51 orders per year after 2018, when geopolitical tensions and the U.S.-China trade war escalated.
China is also negotiating a major jet purchase from European rival Airbus SE. Boeing and Airbus projections show China will need at least 9,000 new jetliners by 2045.
