China has ordered 140 single-aisle and wide-body jets worth $22 billion from Airbus and is in talks for additional A380 superjumbos.
Airbus Chief Executive Officer Tom Enders said that Airbus will be supplying 100 A320-series jets as and 40 of its latest twin-aisle A350s. Airbus signed the agreement with state-owned China Aviation Supplies Holding Co. The aircraft will then be allocated to individual airline operators over the next 5 to 6 years.
“China is one of the world’s most important markets for aviation today,†Enders said.
It is expected that China's travel demand will gro 6.1% annually for next two decades, and by 2035, it will overtake the U.S. as the world’s biggest aviation market. Boeing Co. has also predicted that China will require 6,810 aircraft in the 20 years through 2035, which effectively makes it the world’s biggest single-country market worth over $1 trillion.
Last year alone, travel market in China grew almost 11%, tripled of U.S.'s growth. American Airlines Group Inc. and Delta Air Lines Inc. has also recently invested in China airline companies.
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