China Considers Resuming Boeing 737 Max Purchases

A protracted commercial freeze in a vital overseas market for the US aircraft manufacturer is coming to an end as China is considering resuming purchases of Boeing’s 737 Max aircraft, according to report.

The announcement is made just before the Asia-Pacific business Cooperation (APEC) Summit, which is expected to bring together regional business leaders to talk about trade and collaboration.

Boeing’s sales in China have been suspended due to two deadly incidents

According to it, China may use the summit to formally announce its decision through an order or memorandum. Although specifics of the agreement may change or even be withdrawn, this calculated move comes before of the planned meeting between Chinese President Xi Jinping and US President Joe Biden on Wednesday.

Since 2018, Boeing’s sales in China have been suspended due to two deadly incidents that resulted in the 737 MAX model being grounded globally. Furthermore, the intensifying hostilities between the US and China have made business dealings much more difficult.

Boeing has been getting ready for a boom in sales

Notwithstanding these difficulties, Boeing has been getting ready for a boom in sales; some 85 of these aircraft are presently in storage, waiting to be delivered to Chinese airlines. The company’s objective is to deliver between 375 and 400 aircraft worldwide this year.

In September, Boeing raised its 20-year forecast for new aircraft sales to China somewhat, citing rising domestic travel demand and economic growth.

By the conclusion of the forecast period, China’s domestic aviation industry will be the largest in the world, with demand for 6,470 single-aisle aircraft like the Boeing 737 MAX family. This prediction was made by the American planemaker, who said that China’s fleet will more than double to roughly 9,600 jets over the next twenty years.