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China is contemplating resuming purchases of Boeing’s (NYSE:BA) 737 MAX plane when the U.S. and Chinese presidents meet this week on the APEC Summit in San Francisco, Bloomberg reported Sunday evening.
Terms of a possible settlement are nonetheless underneath dialogue, and may change or crumble earlier than President Biden and President Xi meet on Wednesday, based on the report, which additionally mentioned an announcement may take the type of a memorandum of understanding reasonably than a proper order.
Boeing (BA) has not made any important gross sales of its 737 MAX narrowbody jets in China since a minimum of 2018, earlier than two crashes led to a worldwide grounding of the mannequin and deteriorating relations between the 2 governments stifled business dealmaking.
Boeing (BA) already has ~85 737 MAX jets supposed for China in storage, and restarting deliveries may assist it attain its goal of delivery 375-400 of the planes this 12 months.
