Airbus Just Sold 130 Jets To A Chinese Company For $17 Billion

Airbus Sells 17 Billion in planes to Chinese Company

Airbus on Thursday announced that it has sold 130 commercial jets in China in a deal worth $17 billion.

The sale was completed after Boeing’s biggest competitor sat down for discussions with German Chancellor Angela Merkel and Chinese Premier Li Keqiang in Germany.

The jets are being purchased by China Aviation Supplies Holding Company, an aircraft leasing company.

The order includes 30 Airbus A330 twin-aisle jets and 100 of the single-aisle A320s. The China-based company also ordered 45 of the A330s earlier this year.

Boeing expects China to order 6,330 commercial aircraft over the next 20 years. Based on current market prices that would equal approximately $950 billion in sales.

Chinese President Xi Jinping visited Boeing’s factory in Everett, Washington during a trip to the United States in September. During that trip he committed to purchasing 300 commercial planes for China, valued at $38 billion.

Written by Lane Hanson

Lane Hanson

Lane Hanson is BusinessPundit's Economy Editor. He reports on major changes in the US and Global Economies. He can be reached at College Reviews.