China Aviation Supplies Holding Signs $17b Agreement for 130 Airbus Aircraft

Airbus announced that China Aviation Supplies Holding Company (also known as CAS) has signed a General Terms Agreement for 130 Airbus aircraft. Of the 130 Airbus aircraft, 30 are A330 family aircraft and 100 are A320 family aircraft.

The President and CEO of CAS, Li Hai, along with the President and CEO of Airbus, Fabrice Bregier, signed the General Terms Agreement in Beijing. The Chinese Premier Li Keqiang and German Chancellor Angela Merkel were also in Beijing to witness the signing of the General Terms Agreement.

Here’s what Airbus CEO Bregier had to say about the agreement:

“We are grateful to CAS, one of our longest standing customers, for its continued confidence in Airbus and in the versatile A330 Family as well as the best-selling A320 Family. With these 30 A330 options now firmed up, CAS’ total number of orders for the popular Airbus wide body is this year 75 aircraft. This strong demand in China for the A330 has been the key driver behind our decision to set up an A330 Completion and Delivery Centre in Tianjin, China, next to the A320 Family final assembly line and delivery center in Tianjin, which has assembled and delivered more than 240 Airbus single-aisle aircraft. This will enable us to be even closer to our customers and to take our long-standing mutual beneficial partnership with China to a new height.”

In Tianjin, China, the first agreement was signed by the Airbus and Chinese partners in March 2014. This agreement was witnessed by the Chinese President Xi Jinping and the French President Francois Hollande. Another agreement was signed in October 2014 with Tianjin Free Trade Zone and Aviation Industry Corporation of China for a Letter of Intent. For this deal, Chinese Premier Li Keqiang and German Chancellor Angela Merkel were also there for the signing.

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