Boeing (BA) Peer Lands $10B Jet Deal with China
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Boeing (NYSE: BA) is on watch as a key rival lands a big order in China.
According to reports out Wednesday night, China's state-owned purchasing agency struck a deal with EADS' (OTCBB: EADSY) Airbus for around 70 jets, with total purchase price of $10 billion. The order includes 27 long-haul A330 jets and 43 smaller A320 aircraft.
Airbus and China also entered into an agreement for the company to continue building airplanes in Tanjin through 2025.
Notably, about 29 percent of France's exports to China are aerospace related, while the country recorded a €26 billion trade deficit with China in 2013.
It wasn't made clear whether Boeing was vying for the same contract. Shares are lower in early trading.
According to reports out Wednesday night, China's state-owned purchasing agency struck a deal with EADS' (OTCBB: EADSY) Airbus for around 70 jets, with total purchase price of $10 billion. The order includes 27 long-haul A330 jets and 43 smaller A320 aircraft.
Airbus and China also entered into an agreement for the company to continue building airplanes in Tanjin through 2025.
Notably, about 29 percent of France's exports to China are aerospace related, while the country recorded a €26 billion trade deficit with China in 2013.
It wasn't made clear whether Boeing was vying for the same contract. Shares are lower in early trading.
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