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China 4 carriers to buy 42 Boeing 787s for 5.04 bln usd

9-Aug-2005

BEIJING (XFNews) - Four Chinese air carriers have signed a deal to purchase a total of 42 Boeing 787 aircraft for 5.04 bln usd, the official Xinhua news agency reported.

The report said Hong Kong-listed Air China will buy 15 aircraft, China Eastern Airlines Corp Ltd (SHA 600115; HK 0670; NYSE CEA) will buy 15, Shanghai Airlines Co Ltd (SHA 600591) will buy nine and Xiamen Airlines will buy another three airplanes.

"Today's signing is a major step forward in bringing the revolutionary 787 Dreamliner airplanes to China. It marks a new era of Boeing-China cooperation -- reinforcing Boeing as the long-term aviation partner of China," Boeing said in a statement.

"Boeing continues to work to reach an agreement for 18 additional 787s, which are part of the previously announced commitment by China," Boeing said.

Shanghai Airlines Co Ltd said in June that the catalog price for a B787 is 120 mln usd, and it expects to gradually take delivery of the 787s over five years, beginning in 2008.

Over the next two decades, Airbus sees potential sales to China of some 1,600 aircraft, while Boeing, which currently has a 62 pct market share in China, predicts more than 2,000.


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