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July 2, 2015

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China in landmark deal for French jets

Source: Agencies | July 2, 2015, Thursday | Print Edition

CHINA has placed a landmark order for dozens of wide-body jets from Airbus in a multi-billion-dollar deal that paves the way for a second European aircraft plant in the world’s fastest-growing aviation market.

The deal, signed during a visit to France by Chinese Prime Minister Li Keqiang, includes the purchase of 45 A330 aircraft, worth at least US$11 billion at list prices, plus plans for a possible 30 more.

It was signed during a ceremony watched by business leaders and reporters at the French prime minister’s office.

Airbus has been negotiating for about 18 months to establish a cabin-completion center for wide-body aircraft in China alongside its existing final assembly plant for smaller A320 jets in Tianjin in north China.

Fabrice Bregier, chief executive of the planemaking unit of Airbus Group, said Airbus would press ahead with the 150 million euros (US$167 million) project.

“We are going to launch the project. I think we have a good base. We hope to have more orders in the future, but it’s a project which makes a lot of sense and which gives us an advantage against our competition,” Bregier told reporters.

The agreement to build a plant capable of fitting out two A330s a month is due to be signed during Li’s visit to Toulouse today.

Industry sources have said Airbus originally hoped to sell as many as 200 A330s to China, gambling on a “regional” version of its A330 long-haul jet to help deal with domestic congestion. The final transaction is still large enough to secure production of one of Airbus’s most profitable planes.

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