BEIJING (XFNews) - Boeing Co (NYSE BA) and Jade Cargo International, the first cargo airline in China with foreign ownership, announced they have completed a firm order for the carrier's purchase of six Boeing 747-400ER Freighters, worth USD1.3 billion.
Delivery is scheduled to start in 2006 through January 2008.
"China is a key manufacturing center for the world, producing a number of high-value goods that are good candidates for air shipment," Rudolf Tewes, general manager of Jade Cargo International, said.
"The highly efficient and industry-standard 747-400ER Freighters will allow us to capitalize on the growing China market and provide the best start for long-term profitability," he added.
Boeing Commercial Airplanes' China sales vice president Rob Laird said: "This is a great move for Jade Cargo to enter the early stages of the rapidly growing China cargo market."
The cargo carrier plans to start operations in 2006 and along with destinations within China, the airline plans to serve additional Asian, European and American destinations.