Airbus lands a massive deal with China as Boeing battles its 737 Max crisis

https://edition.cnn.com/2019/03/26/business/airbus-china-deal-boeing/index.html
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The European plane maker said Monday that it has reached a deal to sell 300 passenger jets to Chinese airlines. The agreement was signed during Chinese President Xi Jinping's visit to France.

The order covers 290 planes from the A320 family and 10 from the A350 line, Airbus (EADSF) said in a statement. The company said the agreement showed strong demand from all areas of China's rapidly expanding aviation market, including "domestic, low cost, regional and international long haul."

Indonesian airline Garuda said last week that it is seeking to cancel a multibillion-dollar order for 49 737 Max aircraft from Boeing.

The European manufacturer didn't specify the total value of the deal and didn't respond to a request seeking further comment. Based on Airbus' list prices, the planes are worth roughly $35 billion altogether, but customers typically receive significant discounts from the list prices and can get bigger reductions for huge orders.

Airbus shares gained more than 1.5% in early European trading on Tuesday.