CBI member, Airbus has announced that it has agreed a €30 billion deal with China to sell a package of 300 aircraft to the country. The order was one of 15 commercial deals signed by the two sides during President Xi’s visit to France this week.
President Xi’s state visit to France comes one week after the European Commission labelled China a ‘Systematic Competitor’, and announced that it was considering steps to ‘develop a new arsenal [of trade defence instruments] to fight aggressive trade tactics’ –- French President Emmanuel Macron has been particularly vocal on the need for the EU to be more robust in its trade negotiations with China.
President Macron reportedly told President Xi after their meeting at the Elysée palace in Paris, where the trade deal was signed, that ‘[France] needs more access for our companies in China, the conclusion of a big contract for Airbus is a significant move forward and an excellent signal.’
The agreement, between China’s Aviation Supplies Holding Company and Airbus, covers 290 Airbus A320 aircraft and 10 A350 XWB jets.
Guillaume Faury, president of Airbus’ commercial aircraft division, said: ‘[Airbus is honoured to support the growth of China’s civil aviation with our leading aircraft families – single-aisle and wide-bodies. [Airbus’s] expanding footprint in China demonstrates our lasting confidence in the Chinese market and our lasting commitment to China and to our partners.’
China is a key market for Airbus, with the company predicting that it will become the world’s biggest aviation market by early next decade. Airbus on Monday said that its latest market forecast to 2037 predicted that China would need some 7,400 new passenger and freight aircraft over the next 20 years – representing more than 19% of the world total demand for aircraft.
As of the end of January 2019, Chinese airlines had some 1,730 Airbus aircraft in operation, according to the company.
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