Monday, August 08, 2005


$12 Billion comes back from China

From an AP report by way of Yahoo news:

Four Chinese airline companies have agreed to buy 42 Boeing 787 jets for a total $5.04 billion, the official Xinhua News Agency reported Monday.

China's flag carrier Air China Ltd. and China Eastern Airlines Corp. will each buy 15 planes, Shanghai Airlines Co. will buy nine planes, and Xiamen Airline Co. will buy three planes, the report said.

The purchases come ahead of an expected visit by Chinese President Hu Jintao to the United States in September and are a coup for Chicago-based Boeing over European archrival Airbus SAS.

In January, six Chinese airlines signed an agreement with Boeing to order 60 of its new fuel-efficient 787 Dreamliners for $7.2 billion.

Boeing spokeswoman Yvonne Leach said the company was still negotiating with Hainana Airlines Co. and China Southern Airlines Co., which were part of the previous agreement. "We have every intent of getting there with the two airlines," Leach said.

Xiamen Air is 60 percent owned by China Southern Airlines, which along with Xiamen Air also signed a contract in April to buy 45 Boeing 737s.

Note, the $12 billion dollar figure includes only the two orders for 787's; it does not include the April purchase of 45 737's.

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