Boeing going Chinese

[rpm]

“We are now proud to extend our partnership with a new, mutually beneficial collaboration,” Boeing Chief Executive Officer Dennis Muilenburg told airline officials, employees and reporters gathered in a factory bay in Everett, Washington.

Details of the new agreements remain vague. The “general terms agreement” announced Wednesday covers orders and commitments for 190 single-aisle 737s and 50 wide-body jetliners, although models and customers weren’t disclosed. Lessors ICBC Financial Leasing Co. and CDB Leasing Co. are taking another 60 737s. It’s not clear how many of the orders already have been placed and marked as “unidentified” in Boeing’s order book.

China is poised to displace the U.S. as the world’s biggest aircraft and travel market in two decades, according to Boeing. The center would be Boeing’s largest industrial expansion outside the U.S. The center will be operated jointly with Commercial Aircraft Corporation of China Ltd.

The joint-venture partners are working with Chinese government officials on a final business agreement and will announce the facility’s location and the timing of first deliveries later, Boeing said.

Boeing also said it would broaden its agreement with Aviation Industry Corp. of China, a supplier, to add major component and assembly work packages.

Boeing announced that it had won $38 billion (list price value) worth of orders — though standard discounts mean the actual value is $19 billion — from China for narrowbody 737 aircraft and 50 widebody aircraft. Investors did not find this news to be a reason to celebrate — Boeing stock fell 1.73% after the news and another 0.84% in the after-market.

No word on how many American jobs were eliminated or how passengers will know if they are flying on a Chinese 737.

[BuckShot]

The chi-comm planes only take off, they don't land

[Meatwad]

They'll land but in 100 pieces, and in lead paint too

[Ripsnort]

It cracks me up how assuming the uninformed are.

They will be finishing the interiors of the planes in China. Yes. A "Green" airplane (interior wise, those in the biz know what this means) will continue to be assembled, test flown, pilot check out here state side.

Once it passes all inspections, then it will be flown over to China for the final interiors installation based on the customer's design request.

Considering 1 out of 4 - 737's are sold to Chinese airlines this actually relives the pressure on the Renton line allow more planes to go out the door, delivered sooner (than the current wait time of 5 years) and directly competes with what Airbus is already doing.

As a reasonably large shareholder of stock in our company I applaud them for moving in the right direction as it is good for shareholder value.

[ghi]

Ohhh no, how are going to spray chemtrails? !

[zack1234]

I told you all this last month even before news was released

[Meatwad]

Last month you was talking about pies and pie accessories

[Skuzzy]

Last month you was talking about pies and pie accessories

Ohhhhhhh,...I thought he was talking about seven hundred and thirty seven pies!

[bustr]

There has been some union grumbling that they are being cut out of future work by this move to china for the interior finishing. How much future work and union job security does the China work really impact?

[zack1234]

Pies are the future

Pies are the cake

[Rich46yo]

I was on a brand new -9ER last week, "I should have taken pictures", wait I did. Beautiful airplane and definitely not the 737 your Daddy flew on. It was two weeks old and still had that "new plane" smell. I would have taken a picture of me in the Capt. seat but the Capt. had Father /son friends sitting there and I thought let the kid get as much seat time as he could he looked so thrilled sitting there.

[WaffenVW]

It's an aluminum dildo with wings, just like all modern airliners. Efficient it is. Beautiful it is not.

[Brooke]

It's great to build stuff in China.  Not only does China get paid for the work, but they get to steal all of the technology and trade-secret knowledge as a free additional benefit.  It's win-win!

[Ripsnort]

It's great to build stuff in China.  Not only does China get paid for the work, but they get to steal all of the technology and trade-secret knowledge as a free additional benefit.  It's win-win!

China would get it either way, whether it be a US Citizen stealing it for them or our US Gov't essentially handing it over to them (Thanks Bill)
MD did the same thing in the 90's, Airbus is established over in China, Boeing is a late comer.

Combine that with the China Russia merger that will create a company to directly compete with Airbus/Boeing in the wide body range, well, "The enemy of my enemy is my friend" applies.

[jeep00]

I wonder if the US is the leading consumer of tinfoil yet...