China may resume purchases of Boeing’s 737 Max aircraft during the upcoming meeting between the U.S. and Chinese presidents at the APEC summit, according to Bloomberg News. However, no formal order is expected to be unveiled by Chinese President Xi Jinping. Instead, the potential agreement may take the form of a memorandum of understanding or letter of intent. The terms of the agreement are still under discussion and could change before the meeting on Wednesday.
Boeing has been eagerly waiting to resume deliveries of its popular 737 Max to Chinese airlines, which were halted over four years ago following two fatal crashes. As of June, approximately 90% of the 737 Max jets in China had already resumed commercial operations. However, the company has faced difficulties in securing new orders from Chinese carriers since 2017 due to escalating political and trade tensions between Beijing and Washington.
Despite these challenges, Boeing recently increased its annual 20-year forecast for new plane deliveries to China. The company predicts that China’s fleet will more than double to nearly 9,600 jets in the next two decades. Additionally, Boeing expects China’s domestic aviation market to become the world’s largest by the end of the forecast period, with a demand for 6,470 single-aisle planes, including the Boeing 737 Max family.
In April, China’s aviation regulator published a report that Boeing viewed as a crucial step towards resuming deliveries. However, no deliveries have resumed since then. Boeing has chosen not to comment on the Bloomberg report.
As the APEC summit approaches, all eyes will be on whether China and Boeing can reach a new agreement, potentially paving the way for the return of the 737 Max to Chinese skies.
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