On China president's visit, Boeing reveals $38B contract for Beijing carriers

By Doug G. Ware  |  Sept. 23, 2015 at 5:54 PM
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EVERETT, Wash., Sept. 23 (UPI) -- American aerospace giant Boeing announced a new contract worth nearly $40 billion to build 300 jetliners for Chinese airlines -- an agreement highlighted by the Chinese president's visit to the United States.

Boeing, which was formerly headquartered in Seattle, said the contract asks it to deliver nearly 200 of its 737 jetliners, 50 wide body aircraft, and 60 commuter-type single-aisle planes to various Chinese carriers.

"Boeing will continue to work closely with our customers, suppliers and other stakeholders in China to support the long-term growth of China's aviation industry and jobs here in the United States," Boeing Commercial Airplanes Chief Executive Ray Conner said. "Boeing is expanding our longstanding relationship with Chinese industry to meet vital goals for our company."

Boeing's announcement coincided with a visit by Chinese President Xi Jinping to its widebody commercial airplane factory in Everett, Wash.

"Together, Boeing and China committed to further advance development of China's commercial aviation industry and meet strategic business objectives for Boeing in the world's largest airplane market going forward," Boeing said in a news release Wednesday.

The Chinese president spent day two of his visit to Seattle observing the company's assembly of 747-800, 777 and 787 aircraft models.

"Today's visit by President Xi represents a new chapter in the valuable relationship between Boeing and China," Boeing President and CEO Dennis Muilenburg said. "Boeing is committed to further strengthening and deepening our partnership with China in mutually beneficial ways that will bring positive outcomes to Boeing and our Chinese partners."

Boeing also said Wednesday the agreement will facilitate development of new bio aviation fuel from agricultural waste -- to reduce carbon emissions.

"When produced sustainably, aviation biofuel reduces carbon emissions by 50 to 80 percent on a life cycle basis compared to conventional petroleum jet fuel," Boeing's statement said.

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