[photopress:a320nose_1.jpg,full,alignright]This story contains four essential and, perhaps, inter-connecting facts.
• Airbus is now basically a French company and is in some strife because of the late delivery of its super-jumbo which may mean orders will be cancelled and deposits returned and other strife.
• French President Jacques Chirac is visiting China on a state visit.
• China and Airbus have signed a framework agreement and a letter of intent for 150 Airbus A320 aircraft and 20 Airbus A350 airplanes. The agreement and letter of intent were signed by Airbus President and CEO Louis Gallois and Li Hai, general manager of the China Aviation Supplies Import and Export Group Corp.
Chinese President Hu Jintao and visiting French President Jacques Chirac attended the signing ceremony at the Great Hall of the People.
• Airbus has signed a framework agreement with the Chinese authorities to build its first aircraft assembly plant outside Europe, at Tianjin.
So President Chirac returns to France with signed deals (more expressions of intent than total commitments) worth more than $10 billion and China did not lock itself in to any order and China gets a new aircraft factory.
Source: Xinhua and research.