Boeing order is old news

Yes, Chinese airlines have ordered 200 aircraft from Boeing. But we already knew that.

By Kim Peterson Jan 19, 2011 3:48PM
Image: Airline (© Christie & Cole/Corbis)Boeing (BA) has a huge order in from China worth $19 billion, the White House announced today. The order of 200 aircraft will be delivered over three years.

But shareholders didn't react to the news, and Boeing shares actually fell by 1%. That's because there actually aren't any new orders to announce.

All those planes have already been announced in the past four years, The Seattle Times reports. Boeing has already received nonrefundable deposits on them and booked them as firm orders.

So the impact on Boeing is minimal. The only newsworthy thing to come out of today is that the Chinese government gave final approval to the airlines that placed those plane orders. The government requires that all airline orders get the official green light.

Announcing the approval today is pure politics, "designed to make the Chinese government appear responsive to U.S. concerns about the balance of trade," writes reporter Dominic Gates. Boeing shares were down 1.2% to $71.57 in afternoon trading.


1Comment
Jan 19, 2011 7:14PM
avatar

Yep, figured that was the case.

 

How about this one: Presidents Obama and Hu met to discuss free trade. One of them believes than anything can be confiscated from citizens or companies if it's in the best interest of the state. President Hu also believes this, and that the army should be used if any groups object to that.

 

I tell you, nobody could invent stuff this funny! Smile

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