China concluded a contract with Boeing for delivery of 300 civilian aircrafts, including single-aisle Boeing-737 and wide-body planes 737-800 NG.
This agreement has become the most significant deal in the history of the corporation. Importantly, components for aircrafts will be made in China, as well as the the final fine-tuning.
This caused a storm of protest among Boeing's trade union, but the corporate management hastened to assure staff members that production and employment at its factories will not be reduced.
According to the American concern's price catalogue, the package has a value of approximately $38 billion. The agreement was signed with the participation of Chinese President Xi Jinping.
Besides, Boeing and Chinese company Commercial Aircraft Corporation of China Ltd. (COMAC) will create final assembly lines in China, including interior and painting.
Currently, Chinese and US aviation companies' officials are working over some contract provisions.
At the moment, Boeing produces Boeing-737s at a record pace, to 42 aircrafts per month. With China’s assistance, it is planning to increase the production to 47 planes per month in 2017 and 52 aircrafts per month in 2018.
Boeing has been delivering aircrafts to China since 1972, when President Richard Nixon arrived in Beijing on Air Force One Boeing-707. Now, more than 50 percent of China's aircraft fleet consists of Boeing.
According to some forecasts, over the next 20 years, China will become the largest market for commercial aircrafts with a capacity of 6,330 new units at $950 billion.
