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US$38 billion aircraft deal with China

PRESS RELEASE

September 23, 2015: Boeing has announced several cooperation agreements with China. An MoU between Boeing and the National Development Reform Commission (NDRC) to advance their long-term strategic cooperation includes:

  • Boeing and the China Aviation Supplies Holding Company (CASC) have signed a General Terms Agreement related to the purchase of 300 airplanes. The package has a value of approximately US$38 billion at list prices.
  • Aircraft orders and commitments include 240 airplanes for Chinese airlines, including 190 737s and 50 widebody aircraft, and 60 737s for leasing companies ICBC and CDB Leasing.
  • Boeing and the Commercial Aircraft Corporation of China (COMAC) will partner to open a facility in China for the interiors completion, paint and delivery of Boeing 737 aircraft to Chinese customers. The joint venture facility will significantly expand Boeing's collaboration with China's aviation industry while also enabling future production rate increases at Boeing's 737 final assembly factory in Renton, Wash.
  • Boeing and Aviation Industry Corp. of China (AVIC) will broaden their long-term collaboration to support Boeing's commercial airplane programs. In a framework agreement, the companies said they intend to further advance AVIC's manufacturing capabilities by adding major component and assembly work packages; strengthening leadership; and developing AVIC's broad aviation infrastructure and business practices, including supply chain management.

Under the framework of the MOU between Boeing and NDRC, Boeing and NDRC announced a new initiative to turn agricultural waste in China into sustainable aviation biofuel. Boeing will partner with NDRC to turn items from farms, such as corn cobs and wheat stalks, into sustainable jet fuel as a way to reduce aviation's carbon emissions.

Boeing is the largest international customer of China's aviation manufacturing industry, with suppliers playing a role in 737, 747, 767, 777 and 787 Dreamliner production.

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