US President
Donald Trump on Friday said that China has agreed to buy more than 200 Boeing aircraft, with the deal potentially expanding to as many as 750 planes, following his visit to China where he met his counterpart Xi Jinping.
Speaking to reporters, Trump said, "We’ve made a lot of great trade deals, including over 200 planes for Boeing with a promise of 750 planes, which will be by far the largest order ever. If they do a good job with the 200, which I’m sure they will. And that’s General Electric also for the engines."
The proposed agreement would mark Boeing's first major aircraft deal with China in nearly a decade after the US aircraft manufacturer was largely shut out of the Chinese aviation market amid prolonged trade tensions between Washington and Beijing, Reuters reported.
Trump said that the agreement currently includes around 200 aircraft with the possibility of expanding significantly in the future.
The aircraft are expected to be powered by engines supplied by GE Aerospace. Boeing CEO Kelly Ortberg and GE Aerospace CEO Larry Culp were among the American business executives accompanying Trump during the China visit.
Reports earlier suggested discussions were underway for a potential order of nearly 500 aircraft ahead of Trump's meeting with Xi. If finalised at the higher figure, the deal could become the largest aircraft order in aviation history, surpassing previous large-scale commercial purchases globally.
The agreement is also seen as strategically important for China as it seeks to expand aviation capacity while domestic aircraft production by COMAC continues to fall short of projected targets. Analysts say that the move could also help Boeing regain market share against rival Airbus in China.
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Read MoreThe TOI Business Desk is a vigilant and dedicated team of journalists committed to delivering the latest and most relevant business news from around the world to readers of The Times of India. The primary focus of the TOI Business Desk is to keep a watchful eye on the global business landscape, covering a wide spectrum of industries, markets, economic trends, in-depth analysis, exclusive reports and breaking stories that impact businesses and economies. With a mission to provide valuable insights and updates, the desk ensures that TOI readers are well-informed about the ever-changing and dynamic world of commerce and can navigate the complexities of the business world.
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