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China Southern, affiliate Xiamen to buy Boeing planes for $10 billion
December 17, 2015 / 10:31 AM / 2 years ago

China Southern, affiliate Xiamen to buy Boeing planes for $10 billion

BEIJING, Dec 17 (Reuters) - China Southern Airlines and its affiliate Xiamen Airlines have signed deals worth about $10 billion to buy Boeing Co airplanes, company statements on the Shanghai Stock Exchange’s website showed on Thursday.

China Southern, the country’s largest airline by fleet size, has agreed to purchase 50 B737MAX and 30 B737 Next Generation airplanes from Boeing, while its unit Xiamen Airlines has agreed to buy 30 B737 MAX airplanes.

The total value of the deals is 65.07 billion yuan ($10.04 billion), according to the stock exchange filings.

Boeing, in a separate statement, valued China Southern’s 80-plane order at $8.38 billion.

The deal comes less than three months after China President Xi Jinping visited Boeing’s widebody commercial airplane factory during his state visit to the United States.

Boeing announced orders and commitments for 300 Boeing aircraft during Xi’s visit, as well a partnership with Commercial Aircraft Corp of China (Comac) to open a China completion center for the delivery of Boeing 737 aircraft.

China Southern also said it has agreed to sell to Boeing 13 B757 and three B733 along with spare engines.

$1 = 6.4822 Chinese yuan renminbi Reporting by Beijing Bureau and Matthew Miller; Editing by Himani Sarkar

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