Boeing Wins Jet Deal From China Southern Valued at $3.62 Billion

Boeing Co. secured an order from China Southern Airlines Co. valued at $3.62 billion on November 1, 2023, for 150 aircraft. This deal represents a significant victory for the US aerospace manufacturer, which has faced a decade-long drought of new orders from China's largest airline market. The order includes 100 737 MAX jets and 50 787 Dreamliners, with deliveries expected to begin in 2027. This agreement was finalized during a period of increased diplomatic engagement between the US and China, following a meeting between President Joe Biden and Chinese President Xi Jinping in San Francisco. Boeing's order book for the 737 MAX had been impacted by a global grounding of the aircraft in 2019, and more recently by trade tensions. The company has been working to regain its footing in the Chinese market, which is projected to become the world's largest by 2030. China Southern's order is the first major Boeing deal with a Chinese carrier since 2017, signaling a potential thaw in the relationship between Boeing and its crucial Chinese customer base. The deal was announced following a period of intense negotiations and underscores Boeing's efforts to compete with its European rival, Airbus, in one of the most lucrative aviation markets globally.