Airbus gets order for multi-billion dollar jets from China

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Airbus has obtained an order from China for 300 jet planes, as part of a transaction valued at tens of billions of dollars.

An agreement for the purchase of A320 and A350 XWB aircraft was signed during a visit by Chinese President Xi Jinping to Paris.

The order is part of a set of agreements signed during Xi's visit to Europe.

His competitor Boeing destroyed all of his 737 Max after two fatal accidents.

In a statement, Airbus announced it has signed an agreement with China Aviation Supplies Holding Company on the purchase by Air China of Airbus aircraft comprising 290 A320 aircraft and 10 A350 XWBs.

The deal would cost about 30 billion euros ($ 34 billion), according to reports.

"We are honored to support the growth of Chinese civil aviation with our major families of aircraft – single-aisle and wide-body aircraft," said Guillaume Faury, president of Airbus Commercial Aircraft, in a statement. .

Mr. Faury is expected to become the new Airbus Chief Executive Officer in April.

"Our growing presence in China is a testament to our long-term confidence in the Chinese market and our long-term commitment to China and its partners."

The deal will likely be a blow to Boeing, under pressure after two fatal accidents involving his 737 Max 8 jets in five months.

Many countries have banned the aircraft from leaving their airspace after the crash of an Ethiopian Airlines flight earlier this month. Boeing subsequently stopped his fleet of 737 Max as investigations into the causes of the disaster continued.

Xi began his European tour last week in Italy, where he became the first developed economy to join China's Global Belt and Road Initiative.

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But other European countries and the United States have expressed concern over China's growing influence.