Big China Airbus order
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Big China Airbus order
Not sure if this is the right forum, but it is news.
China places $10 bln order for 150 Airbus jets
By Tim Hepher
PARIS, Dec 5 (Reuters) - China signed a deal on Monday to buy 150 single-aisle passenger jets from Airbus worth nearly $10 billion at list prices in a boost for the European planemaker in its battle with U.S. rival Boeing.
The agreement on the A320 jets was signed during a visit to France by Chinese Premier Wen Jiabao, French Prime Minister Dominique de Villepin told a news conference.
The A320 family comprises four aircraft capable of seating 107 to 185 passengers and the 150 planes are worth around $9.7 billion at list prices.
China also signed an agreement with Eurocopter, the world's largest civilian helicopter maker, to co-develop a 6-tonne helicopter.
Both Airbus and Eurocopter are subsidiaries of European aerospace firm EADS <EAD.PA>.
In bilateral agreements with France, China also signed a 150-million euro ($176-million) deal for construction of its high-speed ****ai railway link, and it ordered a satellite from telecoms equipment maker Alcatel Alenia Space <CGEP.PA>.
"This visit comes at an exceptional time in relations between our two countries," Villepin said after a signing ceremony and talks with Wen, who also met President Jacques Chirac.
French media commentators see the deals partly as a reward for improved political ties with France, which is campaigning with Germany for the European Union to drop an embargo on arms sales to China.
Wen has thanked both countries for their support on the embargo, imposed after a 1989 massacre when tanks were sent into Beijing's Tiananmen Square to crush pro-democracy protests.
"We continue to believe that this embargo is an anachronism," Villepin said. "We will continue to work for it to be lifted."
Most other EU member states disagree with France on this issue, citing humans rights and security concerns.
CEREMONY
Wen toured Airbus's giant assembly plant for the A380 superjumbo at its headquarters in Toulouse, southwestern France, on Sunday at the start of an 11-day trip to Europe and Malaysia.
The Airbus deal had initially seemed likely to be for 70 or more aircraft but talks continued after Wen arrived in France on Sunday.
China's three biggest airlines -- China Southern, China Eastern and Air China -- are among the buyers, airline executives said.
Others said to have asked the state buying agency for a piece of the deal include Sichuan Airlines, Shenzhen Airlines and Hainan Airlines <900945.SS> <600221.SS>, a listed carrier in which global financier George Soros has a minority stake.
Airbus said it had agreed with Wen to look at expanding the assembly lines for its aircraft outside Europe for the first time by building a site in China to build single-aisle jets.
Airbus and its rival Boeing are heading for a record year in orders as Asian demand and the spread of low-cost carriers shield them from airline failures in the United States.
The Chinese order comes as Airbus heads for another showdown with Boeing in Australia on Wednesday, when the board of airline Qantas <QAN.AX> is expected to decide orders worth $10 billion.
China's buyers have proved, however, that they are unwilling to let either supplier dictate terms in a fiercely competitive market for large commercial jets.
China ordered 70 Boeing 737s -- the U.S. firm's equivalent to the A320 series -- to coincide with U.S. President George W. Bush's visit to China in November.
China places $10 bln order for 150 Airbus jets
By Tim Hepher
PARIS, Dec 5 (Reuters) - China signed a deal on Monday to buy 150 single-aisle passenger jets from Airbus worth nearly $10 billion at list prices in a boost for the European planemaker in its battle with U.S. rival Boeing.
The agreement on the A320 jets was signed during a visit to France by Chinese Premier Wen Jiabao, French Prime Minister Dominique de Villepin told a news conference.
The A320 family comprises four aircraft capable of seating 107 to 185 passengers and the 150 planes are worth around $9.7 billion at list prices.
China also signed an agreement with Eurocopter, the world's largest civilian helicopter maker, to co-develop a 6-tonne helicopter.
Both Airbus and Eurocopter are subsidiaries of European aerospace firm EADS <EAD.PA>.
In bilateral agreements with France, China also signed a 150-million euro ($176-million) deal for construction of its high-speed ****ai railway link, and it ordered a satellite from telecoms equipment maker Alcatel Alenia Space <CGEP.PA>.
"This visit comes at an exceptional time in relations between our two countries," Villepin said after a signing ceremony and talks with Wen, who also met President Jacques Chirac.
French media commentators see the deals partly as a reward for improved political ties with France, which is campaigning with Germany for the European Union to drop an embargo on arms sales to China.
Wen has thanked both countries for their support on the embargo, imposed after a 1989 massacre when tanks were sent into Beijing's Tiananmen Square to crush pro-democracy protests.
"We continue to believe that this embargo is an anachronism," Villepin said. "We will continue to work for it to be lifted."
Most other EU member states disagree with France on this issue, citing humans rights and security concerns.
CEREMONY
Wen toured Airbus's giant assembly plant for the A380 superjumbo at its headquarters in Toulouse, southwestern France, on Sunday at the start of an 11-day trip to Europe and Malaysia.
The Airbus deal had initially seemed likely to be for 70 or more aircraft but talks continued after Wen arrived in France on Sunday.
China's three biggest airlines -- China Southern, China Eastern and Air China -- are among the buyers, airline executives said.
Others said to have asked the state buying agency for a piece of the deal include Sichuan Airlines, Shenzhen Airlines and Hainan Airlines <900945.SS> <600221.SS>, a listed carrier in which global financier George Soros has a minority stake.
Airbus said it had agreed with Wen to look at expanding the assembly lines for its aircraft outside Europe for the first time by building a site in China to build single-aisle jets.
Airbus and its rival Boeing are heading for a record year in orders as Asian demand and the spread of low-cost carriers shield them from airline failures in the United States.
The Chinese order comes as Airbus heads for another showdown with Boeing in Australia on Wednesday, when the board of airline Qantas <QAN.AX> is expected to decide orders worth $10 billion.
China's buyers have proved, however, that they are unwilling to let either supplier dictate terms in a fiercely competitive market for large commercial jets.
China ordered 70 Boeing 737s -- the U.S. firm's equivalent to the A320 series -- to coincide with U.S. President George W. Bush's visit to China in November.
Last edited by angels; 5th Dec 2005 at 11:56.
