Airbus shares rose on Tuesday after the European planemaker won a deal worth ten...
PARIS - Airbus shares rose on Tuesday after the European planemaker won a deal worth tens of billions of dollars to sell 300 aircraft to China.
Air China's new aircraft Airbus A350 receives a water cannon salute after its maiden flight from Beijing to Shanghai, at Hongqiao international Airport in Shanghai, China August 14, 2018. Yin Liqin/CNS via REUTERSFrench officials said the deal was worth some 30 billion euros at catalog prices. Planemakers usually grant significant discounts.
The Chinese order was announced late on Monday, coinciding with a visit to Europe by Chinese President Xi Jinping and matching a China record held by U.S. rival Boeing.
The larger-than-expected order, which matches an order for 300 Boeing planes when U.S. Donald Trump visited Beijing in 2017, follows a year-long vacuum of purchases in which China failed to place significant orders amid global trade tensions. It also comes as the grounding of the Boeing 737 MAX has left uncertainty over Boeing’s immediate hopes for a major jet order as the result of any warming of U.S.-China trade ties.
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