source:CNN
Reports emerging from Beijing state that President Trump indicated that a 200 aircraft order from Boeing will occur during his visit to China. Company CEO Kelly Ortberg is on the trip with the President and other businessmen and are participating in trade meetings during the summit.
The order for 200 aircraft, while substantial, is smaller than an anticipated 500 737 MAX narrow-body and 100 wide-body aircraft anticipated prior to the summit. The company’s shares fell 5% on the announcement, reflecting disappointment at the smaller than anticipated volume of the order. While the order does break a several year hiatus in the Boeing-China relationship, it falls short of expectations.
The Boeing-China relationship has, in recent years, become geopolitical and more attuned to trade relations than the economic merits of the deal. We will need to wait to see the details of the order, when it is formally announced and we can gain a better idea of the aircraft types included. Stay tuned.
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