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Made to order: China's Shandong Airlines gives Boeing $4.6 billion order

By Catholic Online (NEWS CONSORTIUM)
4/23/2014 (3 years ago)
Catholic Online (www.catholic.org)

Fifty Boeing 737 aircraft ordered up by world's fastest growing nation

China is a nation on the move, literally. Wishing to spread its growing industrial superiority worldwide, China's Shandong Airlines has said that it has placed an order for 50 Boeing 737 aircraft, worth $4.6 billion at list prices.

Boeing is already bogged down with 400 orders for the C919, mostly from China, many analysts expect it to win more orders, especially from domestic carriers.

Boeing is already bogged down with 400 orders for the C919, mostly from China, many analysts expect it to win more orders, especially from domestic carriers.

Highlights

By Catholic Online (NEWS CONSORTIUM)
Catholic Online (www.catholic.org)
4/23/2014 (3 years ago)

Published in Asia Pacific

Keywords: Boeing 737, China, Yuan


LOS ANGELES, CA (Catholic Online) - Chinese carriers for some time have been looking to increase their fleets to cater for a growing domestic demand for air travel. Boeing told the media that it had received an order from the airline -- but refused to confirm the number of planes.

The order is awaiting approval by the Chinese government.

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"Boeing is delighted with Shandong Airlines' strong interest in the efficient 737 airplane and we continue to work with them and the Chinese government to determine the best way to meet their requirement," the company said in a statement.

A growing number of airlines are looking to purchase fuel-efficient aircraft, triggering competition among plane makers.

The 737 typically has 100 to 200 seats, is a narrow-body, or single-aisle aircraft. The market is forecast to generate $20 trillion worth of sales for plane makers over the next 20 years.

The sector is currently dominated by Airbus's A320 and Boeing's 737 aircraft. If approved, the order from China will be a big win for Boeing which is not only competing with Airbus but also likely to face competition from China's state-owned Commercial Aircraft Corporation of China, or Comac.

Comac is also targeting the 100-200 seat plane market with its C919 aircraft.

Boeing is already bogged down with 400 orders for the C919, mostly from China, many analysts expect it to win more orders, especially from domestic carriers.

Rival Chinese airline Air China warned that first quarter profits will be up to 65 percent lower compared with last year as a result of the fall in the Yuan's value.

Funding much of its aircraft purchases in U.S. dollars, the state-owned airline, which reported a net profit of 249 million Yuan in the first quarter of 2013.

Rival China Southern Airlines warned on profits for the same reason last week.

The Yuan fell by 2.7 percent against the US dollar in the first quarter of the year.

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