Thursday, October 26, 2006

China bailing out Airbus

Airbus just got a bailout, only German's are calling it winning big.   China has ordered 150 A320 aircraft.  This follows a $10 billion order for Airbus planes last year that might or might not have been a firm order.   (Asia Times doesn't think so.   They say it was a "framework agreement".)  The Airbus deal also provides for plans for a plant in China with Airbus holding a 51% stake in the Tiajin facility.   A "long-term vision" thing with China.  

The fact that Airbus was intended to offer employment in the EU is moot, I guess.  "The agreement signed is for purchase of A320 family aircraft, but this family includes the A318, A319, A320 and A321, all of which are actually assembled in Germany except for the A320."   IHT (New York Times-owned International Herald Tribune) reports that French unions are not protesting opening a plant in China as they it will not take away jobs at the French Airbus facility at Toulouse.   Whether this is true, or whether the claim will prove to be true is something we can't know yet.  The IHT isn't known for their honesty.

The BBC, however, isn't too keen to look at the details.  

No comments: