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Airbus Wins US$35bn China Order for 300 Jets

: Mar 26, 2019 - : 12:58 am

Airbus SE secured a US$35 billion jet deal from China during a state visit by President Xi Jinping to the French capital, dealing a fresh blow to Boeing Co.as it grapples with the grounding of its best-selling jet.

A General Terms Agreement (GTA) was signed between Airbus and China Aviation Supplies Holding Company (CAS) covering the purchase by Chinese airlines of a total of 300 Airbus aircraft, with the company announcing a purchase nearly double the size of what the French president had previously claimed was in the works.

The GTA comprises of 290 A320 Family aircraft and 10 A350 XWB Family aircraft.

“We are honoured to support the growth of China’s civil aviation with our leading aircraft families – single-aisle and widebodies,” said Guillaume Faury, President of Airbus Commercial Aircraft and future Airbus CEO. “Our expanding footprint in China demonstrate our lasting confidence in the Chinese market and our long-term commitment to China and our partners.”

According to Airbus’ latest China Market Forecast 2018 to 2037, China will need some 7,400 new passenger and freighters aircraft in the next 20 years. It represents more than 19 per cent of the world total demand for over 37,400 new aircraft.

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.

The latest A320neo model has a list price of $110.6 million and the A350-900 sells for $317.4 million before discounts.

The GTA was signed in Paris, France by Guillaume Faury, President of Airbus Commercial Aircraft and future Airbus CEO; and Jia Baojun, Chairman of CAS; in the presence of visiting Chinese President Xi Jinping and French President Emmanuel Macron.

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