Is Boeing’s Massive China Order Finally Close to Landing?

A blowout figure for April deliveries isn’t quite enough to lift Boeing, but a ceremonial gift from the Middle Kingdom might do the trick. 

Shares of the aerospace giant ticked down slightly on Tuesday after it announced 136 orders in April and 47 deliveries; the former is an impressive figure nearly equal to the orders it had booked in the first three months of the year, while the latter slightly trails expectations. But CEO Kelly Ortberg joining the US delegation to a summit between President Donald Trump and China’s Xi Jinping this week could herald a massive win for the company. After all, being a critical piece on the geopolitical chessboard has its perks.

Overseas Destination

Delivering 47 planes in a single month would’ve felt like a minor miracle for Boeing not long ago: For reference, the company delivered just 24 planes in April 2024. These days, it’s a sign that the company’s turnaround isn’t reaching altitude quite fast enough. Investors were hoping that Boeing would reach 50 deliveries a month, according to FactSet data, and 662 planes total this year. Hitting that mark now will require Boeing to accelerate its deliveries to 59 planes a month through the rest of 2026.

On the other hand, demand remains incredibly strong. Boeing booked 284 net orders in the first four months of 2026, its highest total for the period since 2014. And now, it may be on the verge of landing a very, very big deal:

• Last month, Ortberg said in an interview with Reuters that the company was leaning on the White House to land a major order from China, which had been at least partially contingent on access to spare engine parts that had become ensnared in the trade war.
• Bloomberg, meanwhile, reported that the order could amount to as many as 500 737 Max aircraft, reflecting a strong desire from Chinese airlines to quickly expand their fleets.

Debt Weight: If completed, it would amount to one of the single biggest hauls in aviation history. It could reshape how Wall Street views a company that’s not only recovering from years of high-profile safety issues but also remains saddled with a mammoth $47 billion debt load, as well as tip the balance of its plane-making rivalry with Airbus, which booked about 400 orders from January through April.