European aircraft manufacturer Airbus has struck a huge deal in Asia, as China will purchase 300 aircraft that is valued at around USD $35 billion.
According to Airbus, the deal will involve the manufacturing and delivery of 290 Airbus A320 and 10 A350 XWB to China Aviation Supplies Holding Company (CAS).
“We are honoured to support the growth of China’s civil aviation with our leading aircraft families – single aisle and widebodies,” said Guillaume Faury, President of Airbus Commercial Aircraft and future Airbus CEO. “Our expanding footprint in China demonstrate our lasting confidence in the Chinese market and our long-term commitment to China and our partners.”
CAS is a Chinese state-run aircraft lessor established, one of six holding companies of China’s Civil Aviation Administration. Based in Beijing, the company offers aircraft for sale and lease to airlines. The firm leases to airlines Boeing and Airbus jets.
The purchase is a big win for Airbus in China, where along with other countries in Asia continue to battle for new orders in the fast growing aviation markets in the region. In China, Airbus has committed itself to tap into the Chinese market which is expected to become the largest aviation market over the next few decades. It operates its Final Assembly plant in Tianjin, China – the first outside of Europe – to assemble and deliver A320s to the Chinese and Asian market.