Boeing Shares Dip As Airbus Seals Massive Order From China

The last few days have seen Boeing shares roller-coaster on market swings and idiosyncratic headlines (as Garuda started the worrying trend of canceling airplane orders). Today, Boeing shares slipped after Bloomberg reported that Airbus has secured a long-awaited aircraft order from China.

The confirmation reportedly occurred during a state visit by Xi Jinping to the French capital, according to a person with knowledge of the matter.

The deal is due to be announced as soon as Monday afternoon in Paris, said the person, who asked not to be identified discussing non-public information.

While no details were immediately available of the deal, Bloomberg reports that the deal was initially touted more than one year ago by the French government as being valued at as much as $18 billion.