According to Reuters, China has placed an order for 88 Airbus A320s worth $7.5 billion at list price. The deal is significant for airbus as China has expressed frustration over emissions regulation proposed by the European Union.
The deal, worth $7.5 billion at list prices and with deliveries slated for 2012-15, was signed by Airbus president Tom Enders and CAS President Li Hai during a visit to Germany by Chinese Premier Wen Jiabao.
The visit came days after industry sources said China had delayed the high-profile announcement of a $3.8 billion order for 10 Airbus A380 superjumbo jets at the Paris Air Show to protest over European Union emissions trading rules.
The deal comes merely a few days after Airbus pulled in over 700 orders at the Paris Air Show, smashing records and putting pressure on rival Boeing to keep up. With explosive economic growth in China, today’s announcement is a significant step for Airbus in the battle to win the most highly sought after market in the world.