Paris - On March 25, China's CASC (China Aviation Supplies Holding Company) has signed an agreement with Airbus for the purchase of 290 Airbus A320 family jets and ten Airbus A350.
The agreement is valued at 36 billion dollars (31.8 billion dollars) at list prices. It is not known, however, the amount of the discount accepted by Airbus to the Chinese company. The vast majority of the aircraft will be A320neo and A321neo, but the order also includes A319s.
The agreement came on the occasion of Chinese President Xi Jinping's visit to France. The value of the agreement is almost double compared with the previous agreement that was signed in January 2018 in Beijing for 184 Airbus A320neo during the visit of French President Emmanuel Macron.
The agreement was signed by Guillaume Faury, president of Airbus Commercial Aircraft and the future CEO of Airbus, and Jia Baojun, president of CASC.
The order comes as Boeing is plagued with the immobilization of its 737 MAX jets after two accidents in just a few months, killing 346 people.
China was the first country to ground the aircraft, and it would consider dropping Boeing 737 MAX orders according to Bloomberg.
Boeing and Airbus are fiercely fighting over China's fast-growing aviation market, which is expected to become the largest in the world in the mid-2020s ahead of the United States.
Last year, Boeing opened a Final Assembly Line in China for the assembly of its 737 MAX jets. The first aircraft was rolled out in December.
According to the manufacturer's yearly Global Market Forecast, China will need 7,400 new passenger and cargo aircraft over the next 20 years, which represents nearly 20% of global demand.