Airbus China Agreement

In a statement, Airbus said it had signed an agreement with China Aviation Supplies Holding Company to purchase Airbus aircraft, including 290 A320s, and 10 A350 XWB aircraft from Chinese airlines. Industrial cooperation between Airbus and the Chinese aviation industry on commercial aircraft dates back to 1985, when the first sub-contract was signed with Xi`an Aircraft Company (currently AVIC Aircraft Co.Ltd) for the manufacture and assembly of access doors for Airbus A300/A310 wide-body aircraft. The final assembly of the A319 and A320 single-board aircraft in Tianjin, China, will include improved hull equipment based on an agreement signed with AVIC in 2019. During a visit by Chinese President Xi Jinping to Paris, an agreement was signed for the purchase of aircraft for the A320 and A350 XWB. Airbus reaffirms its commitment to its long-term strategic partnership with the Chinese aviation industry and has signed a new agreement with AVIC on deepening industrial cooperation in Airbus` single-board production. The agreement was signed in the Great People`s Hall of Beijing, which was visited by Chinese Premier Li Keqiang and German Chancellor Angela Merkel. Airbus CEO Guillaume Faury shakes hands with the president of China`s National Development and Reform Commission, He Lifeng, after signing an agreement during French President Emmanuel Macron`s official visit to the Great Hall of the People on November 6, 2019. The agreement between Airbus and China Aviation Supplies Holding Company, which regularly coordinates high-level business during diplomatic visits, includes 290 A320 Family aircraft and 10 a350 long-range aircraft. Airbus declined to comment on the detailed orders, but left open that the large sum contained deficiencies .

. . . Airbus shares rose 1.9% on Tuesday and rose 1.8% to 116.04 euros (.m. The stock has risen 38% this year, compared with a 15 percent lead at Boeing. According to some reports, the deal is worth an estimated 30 billion euros ($34 billion; $26 billion). Other reports by John Irish, Michel Rose, Jean-Baptiste Vey, Tim Hepher; Letter from Richard Lough, Tim Hepher; “The latest Airbus and Boeing agreements followed a similar pattern,” said a Chinese aviation industry expert. The total of 300 was introduced late in the process and after Xi`s visit was underway, although orders for planes usually take months to negotiate, said one of the people. The total value of industrial cooperation between Airbus and the Chinese aviation industry reached $900 million in 2018.