China Signs Contract to Purchase 30 Airbus Jets

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Last updated at: (Beijing Time) Saturday, April 26, 2003

China Signs Contract to Purchase 30 Airbus Jets

A Chinese aviation materials supply company signed Friday morning a contract with the Airbus company on the purchase of 30 Airbus jets, while French PM Jean-Pierre Raffarin arrived for visit.

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China to buy 30 Airbus Jets

A Chinese aviation materials supply company signed Friday morning in Beijing a contract with the Airbus company on the purchase of 30 Airbus A319, A320 and A330 planes, in a deal that is expected to be worth well over one billion euros (dollars).

The signing ceremony between the Civil Aviation Administration of China and the European aircraft manufacturer took place at the Great Hall of the People, watched by French Prime Minister Jean-Pierre Raffarin and Chinese Premier Wen Jiabao.

Raffarin arrived in Beijing Friday morning and will meet with Chinese President Hu Jintao and hold talks with Premier Wen Jiabao.

Other deals set to be concluded during Raffarin's visit are likely to involve French engineering and transport group Alstom, insurance company Groupama and bank Credit Lyonnais, reports AFP.

China is a key market for the European airplane maker and is still lagging behind its rival Boeing which holds nearly 75 percent of Chinese market share.

Although no market value for the deal was released, the catalogue price for the planes was set at 1.7 billion euros, of which 700 million euros would be earmarked for the French part of Airbus, according to Airbus president Noel Forgeard.

At present, 170 Airbus planes are flying in China's commercial air fleet.

The 30 aircraft, which include four A330s, 16 A319s and 10 A320s, will be operated by China Southern Airlines Group, Air China Group, China Eastern Airlines Group, Hainan Airlines and Sichuan Airlines, Airbus said.

China initiated business with Airbus in 1985, and the total Airbus fleet in service on the Chinese mainland, in Hong Kong and in Macao has grown to nearly 190.

Airbus has also invested 80 million US dollars to set up a customer services training and support center in Beijing.

Forgeard said in Beijing Friday that China is a bright spot in the global market and that it will become the world's largest aviation market, following the United States, in the next 20 years. Airbus attaches great importance to this strategic market.

Forgeard also expressed his hope that cooperation with China's aviation industry will be further strengthened.

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