US aerospace giant Boeing said on Friday that China Eastern Airlines (中國東方航空) has agreed to buy 80 737 aircraft, its biggest single-aisle purchase to date by a Chinese airline.
The deal, a mix of current 737s and the new 737 MAX model, is worth more than US$8 billion deal at list prices, Boeing said. Airlines typically receive discounts on orders.
“We look forward to making history with China Eastern as they are poised to make the largest purchase for single-aisle airplanes by a Chinese airline,” said Ihssane Mounir, vice president of Boeing’s sales and marketing for Northeast Asia.
Boeing did not provide details on the breakdown of the plane models or delivery dates.
Last month, Boeing’s arch-rival, European aircraft maker Airbus, won an order from China Southern Airlines for 80 single-aisle A320s with a list value of US$7.9 billion.
State-controlled China Eastern, headquartered in Shanghai, operates a fleet of more than 430 aircraft, including Boeing and Airbus jetliners.
In a filing with the Hong Kong stock exchange on Friday, China Eastern said it had agreed to buy 80 Boeing airplanes valued at US$7.4 billion, citing Boeing’s 2012 list prices.
The airline said it received “substantive price concessions” and as a result it was buying the aircraft significantly below the list price and at even more favorable terms than those under a 2012 deal with Boeing to buy 20 777-300ERs.
China Eastern also did not reveal the breakdown of the airplanes, saying only they were “mainly” the energy-efficient 737 MAX series.
The airline said it decided to buy the Boeing aircraft due to market demand and the company’s strategy to build a route network with Shanghai as the core hub and Xian and Kunming as the regional hubs.
Stephen Garrett, a 27-year-old graduate student, always thought he would study in China, but first the country’s restrictive COVID-19 policies made it nearly impossible and now he has other concerns. The cost is one deterrent, but Garrett is more worried about restrictions on academic freedom and the personal risk of being stranded in China. He is not alone. Only about 700 American students are studying at Chinese universities, down from a peak of nearly 25,000 a decade ago, while there are nearly 300,000 Chinese students at US schools. Some young Americans are discouraged from investing their time in China by what they see
Taiwan Transport and Storage Corp (TTS, 台灣通運倉儲) yesterday unveiled its first electric tractor unit — manufactured by Volvo Trucks — in a ceremony in Taipei, and said the unit would soon be used to transport cement produced by Taiwan Cement Corp (TCC, 台灣水泥). Both TTS and TCC belong to TCC International Holdings Ltd (台泥國際集團). With the electric tractor unit, the Taipei-based cement firm would become the first in Taiwan to use electric vehicles to transport construction materials. TTS chairman Koo Kung-yi (辜公怡), Volvo Trucks vice president of sales and marketing Johan Selven, TCC president Roman Cheng (程耀輝) and Taikoo Motors Group
MAJOR DROP: CEO Tim Cook, who is visiting Hanoi, pledged the firm was committed to Vietnam after its smartphone shipments declined 9.6% annually in the first quarter Apple Inc yesterday said it would increase spending on suppliers in Vietnam, a key production hub, as CEO Tim Cook arrived in the country for a two-day visit. The iPhone maker announced the news in a statement on its Web site, but gave no details of how much it would spend or where the money would go. Cook is expected to meet programmers, content creators and students during his visit, online newspaper VnExpress reported. The visit comes as US President Joe Biden’s administration seeks to ramp up Vietnam’s role in the global tech supply chain to reduce the US’ dependence on China. Images on
New apartments in Taiwan’s major cities are getting smaller, while old apartments are increasingly occupied by older people, many of whom live alone, government data showed. The phenomenon has to do with sharpening unaffordable property prices and an aging population, property brokers said. Apartments with one bedroom that are two years old or older have gained a noticeable presence in the nation’s six special municipalities as well as Hsinchu county and city in the past five years, Evertrust Rehouse Co (永慶房產集團) found, citing data from the government’s real-price transaction platform. In Taipei, apartments with one bedroom accounted for 19 percent of deals last