SEATTLE, Jan. 19, 2011 /PRNewswire/ -- Boeing (NYSE: BA) is pleased to have received final approval today from the Chinese Government confirming a $19 billion aircraft agreement.
China's approval of airline contracts for 200 orders covers aircraft to be delivered over a three-year period, 2011-2013. The approval helps Boeing maintain and expand its market share in the world's fastest growing commercial aircraft market. Comprised of 737s and 777s, the agreement positively impacts more than 100,000 jobs including those at Boeing and with its thousands of suppliers throughout the U.S.
"We value China's support for our products and its confidence in Boeing," said Jim Albaugh, president and CEO, Boeing Commercial Airplanes. "With the outstanding support provided by the United States Government, this deal is a win-win for the Boeing-China partnership, which is approaching its 40th anniversary."
Today, Boeing jets are a mainstay in China's air travel and cargo system, representing more than 50 percent of all commercial jetliners operating in China. Over the next 20 years, Boeing projects that China will need 4,330 new airplanes, worth more than $480 billion, and will be Boeing's largest commercial airplane customer.
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