China has agreed to purchase 200 Boeing jets, with the possibility of the order increasing to as many as 750 planes, President Trump told reporters on Friday, adding that the planes would be powered by General Electric engines.
Following two days of meetings with Chinese President Xi Jinping, Trump told reporters that the deal “includes approximately 200 planes and a promise of up to 750 if they do a good job.” Details, such as which type of jets and when the order will be delivered, were not given.
The news emerged after Boeing CEO Kelly Ortberg and GE Aerospace CEO Larry Culp were among the American executives who traveled with Trump to China in hopes of securing deals or settling business disputes.
Boeing shares fell 3% following the announcement, as the figure was well below analysts’ expectations. Ahead of the meeting between Trump and Chinese leader Xi Jinping, analysts anticipated that an order for over 500 jets was being considered.
If Xi’s order exceeds 500 jets, it would break the aviation record as the largest order in history.
By CEO NA Editorial Staff
