Boeing plans to resell planes made for China

World World: Boeing is planning to resell many of its aircraft that were built for China, but cannot be shipped to China due to US tariffs. Boeing made this public in its analyst call, in which the company’s CEO Kelly Ortberg said that many customers in China have informed that they will not take delivery of the aircraft. Boeing has repatriated these aircraft instead of storing them.

Boeing CFO Brian West said that there is no shortage of buyers in the aircraft market and they are being contacted. After the trade tension with China increased, Boeing has started looking at new market options for its commercial aircraft, including fast-growing markets like India and Latin America.

China is an important market for Boeing, where it was delivering 10% of its backlog. Airbus, which is Boeing’s main competitor, is also interested in aircraft deals for China, but its talks have also slowed down due to political uncertainties.