Boeing expects a major order as part of a deal between the U.S. and China to end trade wars

Everett, Washington - Boeing CEO Dennis Muilenburg thinks a major order from Chinese airline operators would be a catalyst to end trade wars between the two largest economies of the world.

Boeing is in big trouble since its best-selling 737 MAX jets have been globally grounded after two fatal crashes in Indonesia and Ethiopia in less than half a year.

Halted deliveries and compensation requests from the customers already cost the American aerospace giant billions of dollars.

China is the biggest market for Boeing Commercial Airplanes. Last year, the manufacturer delivered more than one of every four commercial aircraft to the Chinese airline operators.

Because of the yearlong trade war, the Chinese government doesn't place new aircraft orders with Boeing although the need is obvious.

It’s been challenging, but I think ultimately they will find a solution because of the mutual interest, and we think our airplane business will be part of that ultimate solution,

Muilenburg told Reuters news agency.

We are hopeful that if there is a trade solution, it will be beneficial to airplane orders as well,

the chief executive added.

The American aircraft manufacturer predicts demand for 7,700 new aircraft in China over the next 20 years, which is valued at around 1,2 Trillion dollars.