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Airbus receives contract worth several billion dollars in China



  An image of an A320neo aircraft.

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Airbus

Airbus has received an order from China for 300 jets worth tens of billions of dollars.

The agreement to purchase A320 and A350 XWB aircraft was signed during a visit by Chinese President Xi Jinping to Paris.

The order is part of a package signed during Mr. Xi's visit to Europe.

It is a rival of Boeing After two deadly crashes he had grounded all 737 Max aircraft.

Airbus said in a statement that it has signed a contract with China Aviation Supplies Holding Company, which includes the purchase of Airbus aircraft by Chinese airlines, including 290 A320 aircraft and ten A350 XWB jets.

The deal is estimated to have reached € 30 billion ($ 34 billion, £ 26 billion).

"We are honored to support the growth of Chinese civil aviation with our leading aircraft families ̵

1; single and widebody aircraft," said Airbus Commercial Aircraft President Guillaume Faury in a statement.

Mr. Faury to be Airbus' new Chief Executive in April.

"Our growing presence in China demonstrates our continued confidence in the Chinese market and our long-term commitment to China and our partners."

The deal is likely to be a blow to Boeing, who came under pressure after two deadly crashes with his 737 Max 8s in five months.

Many countries have banned the plane from their airspace following a fall of the Ethiopian Airlines earlier this month. Boeing later landed his 737 Max fleet while investigations into the cause of the disaster continue.

Mr. Xi started his European tour in Italy last week when he was the first industrialized country to take over China's Global Belt and Road Initiative.

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Caption

] China's President Xi Jinping and French President Emmanuel Macron

However, other European countries and the United States have expressed concern about China's growing influence.


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