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Airbus facing problems with China deal due to EU arms embargo - report.


The Wall Street Journal has reported that a USD1.4bn deal between China and European aircraft manufacturer Airbus is being held up because of a European Union arms embargo.

China has reportedly refused to sign off on the deal for five new A380 superjumbo aircraft because of the 15-year-old ban on Europeans selling military equipment to China.

A spokesperson for the China Aviation Supplies Import and Export Group said that Chinese airlines and regulators had reached preliminary agreement for an unspecified number of A380s but the deal was stuck on the arms embargo issue. Airbus is hoping to expand rapidly in China and is planning to open production facilities in the country, reports Reuters.

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Title Annotation:European Union
Comment:Airbus facing problems with China deal due to EU arms embargo - report.(European Union )
Publication:Airline Industry Information
Article Type:Brief Article
Geographic Code:4EUFR
Date:Dec 3, 2004
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