Two groups of China's carriers to buy 30 Boeing planes

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Last updated at: (Beijing Time) Wednesday, November 12, 2003

Two groups of China's carriers to buy 30 Boeing planes

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Two groups of China's carriers will set out as early as next week for the United States to purchase 30 Boeing aircraft for US$2 billion, today's Beijing Youth Daily reported, citing an official with the Ministry of Business.

Claiming unclear about the value and models for each purchasers, the official noted contents of the deals will be up to the carriers, since it's not a move under the government's directive.

Referring to close sources to the deals, the Beijing Youth Daily report said the purchasers will include Shandong Airlines, Xiamen Airlines and China Aviation Technology Import & Export Corp. (CATIC) Group.

Shandong Airlines will probably buy seven Boeing 737 jetliners to serve on its new routes to South Korea and Japan, while Xiamen Airlines will reportedly acquire five single-aisle Boeing 737 aircraft to expand its fleet on the Malaysia line. CATIC Group may order five Boeing planes.

China's government officials declined to comment on the airplane purchase report, though admitted China will soon send purchase delegations to buy US products, mainly in agriculture and mechanism and engineering. The carriers reportedly will join the purchase delegations.

According to Wei Jianguo, vice Minister of Business, the delegations will leave no later than this month.

Market analysts view the fleet purchase as a big momentum to Boeing's business in China. The company now controls nearly 60 percent of China's 600-odd commercial fleet, with the rest taken by its key rival Airbus.

The deals will help Boeing to revise its slowing trend in the global market, as it has received orders for 169 aircraft this year across the world, nearly 100 lower than Airbus' 263.

The company's market share has shedded 17 percentage points in the third quarter.

Boeing plans to introduce its new parallel model 7E7 to China to compete Airbus A380 super jumbo. (Shanghai Daily news)

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