Mike Flynn
26th Mar 2019, 08:01
Smiles all round at Airbus HQ.
Hong Kong (CNN Business)As Boeing struggles with the 737 Max crisis, its big rival Airbus has announced a huge order from China.
The European plane maker said Monday that it has reached a deal to sell 300 passenger jets to Chinese airlines. The agreement was signed during Chinese President Xi Jinping's visit to France.
The order covers 290 planes from the A320 family and 10 from the A350 line, Airbus(EADSF (https://money.cnn.com/quote/quote.html?symb=EADSF&source=story_quote_link)) said in a statement (https://www.airbus.com/newsroom/press-releases/en/2019/03/china-and-airbus-expand-their-partnership-in-civil-aviation.html), calling it a sign of strong demand from all areas of China's rapidly expanding aviation market, including "domestic, low cost, regional and international long haul."
The European manufacturer didn't specify the total value of the deal and didn't respond to a request seeking further comment. Based on Airbus' list prices (https://www.airbus.com/newsroom/press-releases/en/2018/01/airbus-2018-price-list-press-release.html), the planes are worth roughly $35 billion altogether, but customers typically receive significant discounts from the list prices and can get bigger reductions for huge orders
The deal announced in Paris will include both Neo -- for new engine option -- and so-called classic or CEO versions of the A319, A320 and A321, though the majority will be A320neos and A321neos, according to officials. China typically orders planes in large batches and allocates them to airlines later.
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Hong Kong (CNN Business)As Boeing struggles with the 737 Max crisis, its big rival Airbus has announced a huge order from China.
The European plane maker said Monday that it has reached a deal to sell 300 passenger jets to Chinese airlines. The agreement was signed during Chinese President Xi Jinping's visit to France.
The order covers 290 planes from the A320 family and 10 from the A350 line, Airbus(EADSF (https://money.cnn.com/quote/quote.html?symb=EADSF&source=story_quote_link)) said in a statement (https://www.airbus.com/newsroom/press-releases/en/2019/03/china-and-airbus-expand-their-partnership-in-civil-aviation.html), calling it a sign of strong demand from all areas of China's rapidly expanding aviation market, including "domestic, low cost, regional and international long haul."
The European manufacturer didn't specify the total value of the deal and didn't respond to a request seeking further comment. Based on Airbus' list prices (https://www.airbus.com/newsroom/press-releases/en/2018/01/airbus-2018-price-list-press-release.html), the planes are worth roughly $35 billion altogether, but customers typically receive significant discounts from the list prices and can get bigger reductions for huge orders
The deal announced in Paris will include both Neo -- for new engine option -- and so-called classic or CEO versions of the A319, A320 and A321, though the majority will be A320neos and A321neos, according to officials. China typically orders planes in large batches and allocates them to airlines later.
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