Airbus bags $10 Billion Order from China

French aircraft maker, Airbus has bagged a $10 billion order for 150 A320 airliners from China. The deal follows an agreement signed yesterday between China and Airbus to set up manufacturing line in China.

The A320 family comprises four aircraft capable of seating 107 to 185 passengers and the 150 planes are worth around $9.7 billion at list prices.

China also signed an agreement with Eurocopter, the world’s largest civilian helicopter maker, to co-develop a 6-ton helicopter.

The order upstages China’s purchase last month of 70 Boeing jets during a visit to Beijing by President Bush. At list prices that deal was worth about $4 billion. Buyers typically get discounts on large orders.

Chicago-based Boeing has won about 60 percent of new plane orders from China, with Airbus taking about one-third till now.

On China’s side, the agreement was signed by China Aviation Supplies Import and Export group, and the planes will be delivered to six airlines -- Air China, China Eastern Airlines, China Southern Airlines, Sichuan Airlines, Shenzhen Airlines and Hainan Airlines.

The agreement was part of an overall package in which Airbus also offered China a 5 pct stake in its A350 aircraft program, and agreed to source at least 60 mln usd per year of material in China starting in 2007 and up to 120 mln per year from 2010.