China to buy 42 Boeing 787s for $5.04 billion
Dated 8/8/2005
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Beijing, Aug 8 (DPA) Four Chinese airlines have placed an order with US air plane manufacturer Boeing for 42 new generation 787 Dreamliners in a deal worth $5.04 billion. The contract was signed here Monday, Boeing said in a statement.
In January, Boeing signed an initial agreement to sell 60 of the aircraft worth $7.2 billion to Chinese airlines and is still working on the sale of the remaining 18 planes.
"We remain confident a deal will be completed in the near future," the company said.
Boeing's new model is in competition with Europe's Airbus in the rapidly growing Chinese air traffic market, with Boeing currently dominating with a 60 percent share.
The aircraft are to be delivered by 2008, before the start of the Olympic Games.
Air China and China Eastern are to acquire 15 aircraft each, Shanghai Airlines will buy nine and Xiamen Airlines will get three of the new generation of planes.
China Southern and Hainan Airlines are also considered potential buyers.