The Boeing Company [NYSE: BA] is pleased to have signed the general purchase agreement today with China Aviation Supplies Import and Export Group for 80 Boeing Next-Generation 737 airplanes. The 80 airplanes in the agreement combine with 70 airplanes agreed to in November 2005 to complete a planned 150-airplane purchase. The first 50 of those Next-Generation 737 airplanes were booked in December 2005 with an additional 20 booked in January 2006.
Boeing expects to finalize agreements for the 80 new orders with the individual Chinese airlines over the next few weeks.
The 737 is ideally suited for the Chinese market and represents a large portion of the country's fleet. Of the 542 Boeing airplanes in China's fleet, 366 are 737 family aircraft. The 737 family of aircraft comprises 41 percent of China's passenger airplanes.