China: Aviation fair ends with sale of 102 aircraft

11 November 2008

Zhuhai, China, 11 Nov – China’s biggest aviation fair ended Sunday in Zhuhai with agreements worth US$4 billion for the sale of 102 aircraft, the Chinese state press reported Monday.

The deals done in Zhuhai, a city in southern China next to Macau, totalled more than those of the previous fair in 2006, when deals were done for the sale of 98 aircraft to the overall value of US$3 billion.

The Chinese aviation industry, which is now enetring international markets, made use of the six-day fair to guarantee its first sale to a US company, said the People’s Daily official Chinese Communist Party newspaper.

The Commercial Aircraft Corporation of China (COMAC) closed a deal in Zhuhai for the sale of five of its aircraft to aircraft leasing company GE Commercial Aviation, which has an option to buy a further 16 aircraft.

With the sale of the Chinese aircraft, COMAC will earn US$732.4 million, in the biggest ever sale of aircraft to a foreign market, The People’s Daily said.

Over the six days of the exhibition, Airbus sold 20 A320 aircraft to the aircraft leasing company of the Bank of China, in a deal worth an estimated US$1.1 billion.

The next aviation fair will take place in Zhuhai in November 2010. (macauhub)