Airbus beats Boeing (BA, $370.46) to secure $35 billion China deal
Dealing a fresh blow to Boeing, who has been grappling with the grounding of its best-selling jet 737 Max, its arch and biggest rival Airbus announced on Monday that the company has secured a $35 billion jet deal from China.
Signed during the recent French capital visit of the Chinese President Xi Jinping, according to the terms of the deal, Toulouse-based Airbus is likely to supply 300 passenger jets to Chinese airlines.
In an official statement, Airbus has confirmed that it had signed an agreement with China Aviation Supplies Holding Company, covering the purchase by Chinese airlines of Airbus aircraft including 290 A320-series narrow-body planes and 10 A350 XWB wide-body jet.
Airbus’s Commercial Aircraft President, Guillaume Faury, said in a statement that the company "is honored to support the growth of China's civil aviation with our leading aircraft families - single-aisle and wide-bodies."
The mammoth order for Airbus is likely to be a big blow for Boeing, as it contrasts starkly with its continuing 737 Max problems. Boeing’s bestselling jetliner has been grounded and idled across the world after being involved in two deadly crashes in less than five months. China was the first country to ground the 737 Max earlier this month following the crash of an Ethiopian Airlines flight.
