Boeing to sell China 30 aircraft

Boeing to sell China 30 aircraft

Agence France-Press, Washington

U.S. aerospace firm Boeing announced plans Tuesday to sell 30 aircraft to Chinese airlines in a deal worth US$1.6 billion list prices.

The deal was signed at the Commerce Department in Washington between Boeing and China Aviation Supplies Import an Export Corporation (CASK) for the firm order of 30 Boeing 737 jetliners.

Commerce Secretary Donald Evans and China's Vice Chairman of the State Development Planning Commission Zhang Guobao led the Chinese delegation.

"Today's announcement reflects an expansion in bilateral trade between China and the United States and it underscores the strength of Sino-U.S. relations," Zhang said. "China is modernizing its commercial fleet to improve airline efficiency and profitability."

CASK is a trading company that conducts the import and export business of civil aviation materials for the Chinese government.

The firm said 20 of the planes would be delivered to China Southern Airlines, with the rest going to other Chinese carriers. The airplanes will be delivered 2002 through 2005.

The 737s will be powered by CAM-7 engines produced by CAME, a joint venture of General Electric Co. of the United States and Seneca of France.