Boeing Co. secured a $1.3 billion order from China’s Okay Air, continuation of an order spree from a country that’s set to become the world’s largest aerospace market in the next two decades.
Okay Air agreed to buy 12 single-aisle 737s, with an option to purchase eight more, the Chicago-based planemaker said in a statement distributed at the Singapore Airshow Wednesday. The airline is purchasing eight 737Max-8, three 737MAX-9 and one 737 NG900-ER.
The order, on the second day of the Singapore Airshow, comes amid speculation that the heyday of big orders from India and Southeast Asian nations is ending, and that airlines in the region might have to delay delivery of planes as economic growth slows.
Boeing has forecast China to overtake the U.S. as the world’s biggest aviation market in 20 years.