China on Friday formally announced existing deals for Airbus jets worth $17 billion, in what experts described as an effort to showcase a visit by German Chancellor Olaf Scholz that caught the European planemaker and China-watchers off guard, reports Reuters. China’s state buying agency CASC said it had signed a bulk agreement for 140 Airbus aircraft including 132 A320-family jets and eight A350 wide-body aircraft during Scholz’s one-day visit.
However, the timing triggered speculation as an Airbus spokesperson said it covered deals already on its books including part of a 292-jet deal in July, and an industry source familiar with the matter said the A350 deal went back to 2019.
“China’s modus operandi is to announce business deals commensurate with the importance of the guest,” said Noah Barkin, managing editor with research firm Rhodium Group’s China practice and an expert in German-Chinese relations.