China Holds Back Approval For Another 10 Airbus Jets - Source
March 15 2012 - 11:19AM
Dow Jones News
The Chinese authorities are holding back approval for Chinese
airlines to buy 10 Airbus A330 wide-bodied jets in addition to the
35 that have already been held up due to China's displeasure with
the European Union's Emissions Trading Scheme, a person in the
European aerospace industry said Thursday.
European Aeronautic Defence & Space Co. NV (EAD.FR), the
parent company of Airbus, said last week that the Chinese are
holding up approval for 35 A330s as well as 10 A380 superjumbos
that are destined for Hong Kong Airlines.
With the 10 additional A330s, the total value of the Chinese
orders is in excess of $14 billion.
Airbus has already started cutting metal for some of the A330s
that are scheduled for delivery starting in 2013.
China has already made downpayments on the aircraft and stands
to forfeit these sums if it cancels the orders.
-By David Pearson, Dow Jones Newswires; +331 4017 17 51;
david.pearson@dowjones.com
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