Breaking News

China signs multi-billion dollar deal to buy Airbus aircraft

Airbus has signed a general terms agreement (GTA) with China Aviation Holding, under which Airbus will sell a total of 300 aircraft to Chinese airlines as part of a package of trade agreements signed between the two countries.

According to a statement on the official website of Airbus, the agreement was signed in the French capital Paris, in the presence of French President Emmanuel Macaron, and Chinese President Xi Jinping, who is currently visiting France

The deal includes 290 A320 family aircraft and 10 A350 XWBs, reflecting strong demand across all sectors of the market, including local, regional and international long haul routes from Chinese carriers.

"Our expansion in China demonstrates our long-term confidence in the Chinese market and our long-term commitment to it and our partners there," said Guillaume Faure, President of the Commercial Sector of Airbus

According to Airbus forecasts for the Chinese market from 2018 to 2037, Beijing will need about 7,400 new passenger and cargo aircraft over the next 20 years, accounting for more than 19 percent of the world's total aircraft industry demand, totaling more than 37,400. New aircraft

According to Airbus, the total fleet of Airbus aircraft operating at Chinese operators by the end of January 2019 was 1,730, of which 1455 were from the A320 family and 17 A350 XWBs

The deal to buy China's large number of Airbus aircraft, shortly after Beijing announced the suspension of operation of the Boeing 737 Max, after the crash of an aircraft belonging to the Ethiopian Airlines

The shares of Boeing, the giant US aircraft maker, lost about 18 percent of its value in March, bringing the company's market value down by more than $ 40 billion since the crash of the Ethiopian Airlines' "Max 737"

Boeing is currently at the center of an international storm, after two fatal accidents in five months of its Boeing 737 Max, the backbone of Boeing, and an important part of the company's fleet. However, the aircraft has been shut down worldwide, A US criminal investigation into the certification and marketing of this aircraft, while Boeing says that the end of the reform of the program is likely to be the cause of the problem, but this problem does not seem to end easily

No comments