China Aviation Supplies Holiday Company, the state-owned firm which does big orders for local airlines, signed the deal during a ceremony today, as part of the USA trade mission to China, and was signed by Kevin McAllister, Boeing commercial airplanes president and chief executive.
On Wednesday, Boeing Co. confirmed that they've won the Chinese deal according to which they will be selling three hundred planes to China, worth nearly $37 billion.
Aircraft orders contain list prices however buyers are usually given discounts that end up significantly lowering the prices.
Juneyao Airlines Co Ltd. agreed to an engine and fix agreement valued at $1.4 billion.
China Aviation Supplies, a state run service that leases aircrafts to most airlines in China and works alongside other companies to finalize any deal made by China on aviation machinery, have recently confirmed that the order that Boeing has won will consist of 40 B777s and B787s, along with 260 B737s. It was part of the United States trade mission to China, and was signed by Kevin McAllister, Boeing Commercial Airplanes president and CEO, in the presence of US President Donald Trump and China President Xi Jinping. More than 50% of all commercial jetliners operating in China are Boeing aircraft. In July, China Aviation Supplies announced it would buy 140 aircraft from Airbus in a deal worth $23 billion.
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Aircraft orders are often announced at list prices, but buyers usually get discounts. In October, it said it would purchase 39 wide-body jets from Singapore Airlines.
Earlier on Thursday, General Electric said it had signed deals worth $3.5 billion in China.
The Thursday deal is a part of a larger endeavor on part of President Trump to address the U.S.
GE also signed a framework agreement with China Datang Group to supply it with gas turbines and other components for Chinese domestic projects valued at about $1 billion. It valued that deal at $1 billion.