Boeing secures first Dreamliner delivery to China since 2019

China has signed off on the first direct delivery of a Boeing 787 jet in four years, an indication strained US-China trade relations may be easing and a potential precursor to the more significant resumption of 737 Max deliveries.

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A spokesman for Juneyao declined to comment. Boeing confirmed the Juneyao Air delivery in an emailed statement.

Boeing pared an early gain of as much as 2.8 per cent to trade up 0.6 per cent as of 3:19 pm in New York. The stock has soared 47 per cent since the end of October on signs the industrial titan is starting to speed up deliveries of its two main cash cow planes.

The development comes as Boeing and all Chinese airlines wait for Beijing to allow 737 Max deliveries for the first time in almost five years. That model of jet was grounded globally in 2019 after two fatal crashes. Jefferies LLC has said it expects 737 Max deliveries to Asia’s biggest economy to take place after the 787 delivery.

The jet, registered B-20EQ, is expected to arrive in Juneyao’s home base of Shanghai on Friday afternoon.

Juneyao’s delivery would help the US plane manufacturer edge closer to its annual 787 delivery target of 70 to 80 jets. By the end of November, Boeing delivered 62 Dreamliner aircraft, its data shows.

The resumption of 787 deliveries to China will also help Boeing winnow its inventory of already built Dreamliners, a move that would bolster cash for the plane maker. About 12 of the 75 undelivered widebodies in Boeing storage lots are designated for Chinese carriers, according to Jefferies.