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Airbus Signs Major Contract With China

by Ulrika Lomas, Tax-News.com, Brussels

10 November 2010


European aircraft manufacturer Airbus has announced the signing of a purchase agreement with China Aviation Supplies Holding Company for the supply of 102 aircraft, of which 66 are new orders.

The new orders comprise of 50 A320 family aircraft, six A330s and ten A350 XWBs.

The agreement was signed by Li Hai, President of China Aviation Supplies (CAS) and Tom Enders, President and CEO of Airbus at the Elysée Palace in Paris, in the presence of visiting Chinese President Hu Jintao, French President Nicolas Sarkozy, UK Minister for Industry Mark Prisk and Louis Gallois, CEO of EADS, Airbus's parent company.

“We feel privileged that China continues to choose Airbus aircraft for the further development of its fleet. The order for Airbus’s eco-efficient aircraft underlines China’s ambition to grow sustainably," said Enders. “We look forward to many more years of continued cooperation.”

The purchase order is a significant expansion in Airbus's supply to the Chinese market, which was initiated in the delivery of a first A310 in 1985. At the end of October 2010, Airbus's in service fleet in China had risen to 637 aircraft, representing 43% of the total. As of the end of October China had ordered 738 aircraft directly from Airbus.

Welcoming the agreement on behalf of the UK in a separate statement, Prisk said: “This represents fantastic news for the UK aerospace sector, with these new orders worth over USD5bn to the UK economy. They will not only provide a tremendous boost to the 10,000 Airbus workers at Filton and Broughton, but also to a large number of aerospace supply chain companies spread right across the UK.”

TAGS: aviation | China

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