Boeing receives Shandong Airlines order

<p>Shandong Airlines has placed a new order with Boeing worth £2.7 billion.</p>

Boeing has received a large order from China’s Shandong Airlines, the company has confirmed, which is believed to be worth as much as $4.6 billion (£2.7 billion) at list prices.

The carrier has said it has placed an order for 16 of the manufacturer’s 737-800 aircrafts and 34 of the 737MAX model, which it expects to be delivered in batches between 2016 and 2020.

Shandong Airlines is planning to nearly double its total aeroplane stock to over 140 separate aircraft by the end of the decade, as the eastern China-based firm plans to expand its flight and route offerings.

Domestic air travel is growing rapidly in China. Fuel-efficient models such as the 737 and Airbus A320 are among the particularly popular models in the single-aisle aircraft market, which lends itself to this kind of journey.

In 2012 Boeing finally overtook Airbus for the first time in a decade to become the plane-maker to have delivered more aircraft than any other.

News of the order led to an increase in Boeing’s stock price. At 9.24am BST, shares had risen by 1.79 per cent to $129.61.

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