Chinese company to buy 102 Airbus planes

November 5th, 2010 - 11:34 am ICT by BNO News  

PARIS (BNO NEWS) — China Aviation Supplies Holding Company (CAS) on Friday signed with Airbus for a total of 102 aircraft of which 66 are new orders, Airbus said in a statement.

No financial terms were disclosed, but Airbus said the new orders comprise 50 A320 family aircraft, six A330s and ten A350 XWBs.

The agreement was signed by Li Hai, President of 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.

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

According to Airbus, by the end of October 2010, the company’s aircraft in service fleet in China has risen to 637 aircraft representing 43 percent of the total. China has ordered by end of October in total 738 aircraft directly from Airbus.

Boeing on Wednesday projected that China will require 4,330 new commercial airplanes valued at $480 billion over the next 20 years, tripling its airplane fleet size, making it the largest airplane market outside of the U.S.

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