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China's air show saw four bln dollars in deals: report

by Staff Writers
Beijing (AFP) Nov 10, 2008
China's biennial air show saw 16 deals signed with a total value of four billion dollars and involving 102 aircraft, state media reported on Monday.

The seventh Airshow China closed on Sunday in the southern coastal city of Zhuhai with increased deal-making across the board despite the global financial crisis, the People's Daily said.

During the previous staging of the airshow in 2006, 15 deals were signed involving 98 aircraft valued at three billion dollars.

China's fledgling aerospace industry took a major leap forward at the six-day show this year when it announced its first sale of commercial aircraft to a US company.

Under the agreement, the Commercial Aircraft Corporation of China will sell five of its domestically produced jets to the aircraft leasing arm of General Electric, which had an option to buy 20 more.

The total value of the deal will reach 732.4 million dollars, making it China's largest-ever aircraft deal for export, the People's Daily said.

About 600 civil and military manufacturers and parts suppliers including Boeing and Airbus attended the air show amid hopes China's growing aviation market could cushion the impact of the world financial crisis on the industry.

Airbus secured an order for 20 of its A320 aircraft from the aviation leasing arm of the Bank of China, one of the country's largest lenders. The deal is valued at 1.1 billion dollars.

The next air show will be held in November 2010 in Zhuhai, show organisers said in a statement on its website.

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China plane-makers take first steps to rival global giants
Zhuhai, China (AFP) Nov 4, 2008
China's fledgling aerospace industry took a major leap forward Tuesday at the nation's only international air show as it announced its first sale of commercial aircraft to a US company.

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