Boeing seals 737 Max order from HK’s Greater Bay airlines

Hong Kong’s newest carrier Greater Bay Airlines Co. ordered 15 Boeing Co. 737-9 Max jets and committed to five 787s as it looks to rapidly expand its network. 

The Max order is worth around $785 million, according to figures from aircraft appraiser Avitas Inc., while the five Dreamliners are worth $722 million, based on the 787-9 model and factoring in standard industry discounts.

“The new order will bring fantastic growth possibilities,” Greater Bay Airlines Chairman Wong Cho Bau said in a statement Friday.

Boeing Commercial Chief Executive Officer Stan Deal was among the planemaker’s executives who traveled to Hong Kong for the signing.

Greater Bay Airlines currently operates three older 737s serving destinations in Asia, including Bangkok, Tokyo, Taipei, and Seoul. 

The orders are a boost for Boeing, which has seen a business with mainland Chinese carriers dry up amid tensions between Washington and Beijing.

Boeing’s Max aircraft returned to commercial service in China in January after a nearly four-year absence following crashes involving the model in Indonesia and Ethiopia. However, deliveries of new 737 Max jets remain stalled. 

Speaking on the sidelines of the signing ceremony in Hong Kong, Deal said it was too early to predict when China will restart taking Max deliveries. The priority is for Boeing to get existing planes of Chinese customers flying again he said, adding that 14 Max have been restored to service.

Friday’s order was confirmed by a Bloomberg News report on Feb. 8.