Airbus shares rise on potential China order, co-operation news

Airbus shares are trading higher Wednesday, after French President Emmanuel Macron said an order from China for 184 Airbus planes is close to being finalized. Airbus hasn’t confirmed the news and previously reported no new deals had been achieved during the trip.

Airbus shares rise on potential China order, co-operation news

Airbus shares are trading higher Wednesday, after French President Emmanuel Macron said an order from China for 184 Airbus planes is close to being finalized. Airbus hasn’t confirmed the news and previously reported no new deals had been achieved during the trip.

By 1215 BST, Airbus shares were trading 0.81% higher at €87.58. Airbus shares have risen by around €3 since the beginning of 2018.

No order confirmation from airbus

Macron has been on a three-day state visit to China, where he has been working hard to improve the business relationship between the two countries. Aside from sharing news of the potential Airbus deal, however, little other new business appears to have been secured.

As yet, Airbus hasn't made any announcement on the potential aircraft order. What has been formally announced, however, are plans for greater co-operation between Airbus and China.

Airbus said it has signed a Memorandum of Understanding with the National Development and Reform Commission of China (NDRC) to further develop industrial cooperation in Tianjin. Airbus has also signed agreement with its Chinese partners to increase production of A320 aircrafts, to 6 per month.

“The industrial cooperation between Airbus and China and its continued success are a true role model of a winning partnership between China and Europe,” said Airbus COO and president of commercial aircraft, Fabrice Bregier.

“Together with our Chinese partners we are proud to lift our cooperation to new heights,” Bregier added.

New Airbus China Chairman, CEO announced

In addition to the slightly confusing potential new orders and increased co-operation news, Airbus also announced Wednesday, that Airbus China has two new management leaders.

Eric Chen will succeed Laurence Barron as Chairman of Airbus China. Chen’s previous role was President of Airbus Commercial Aircraft, China. Meanwhile, George Xu is the new CEO of Airbus China.

“I commit to keeping the momentum going and to continue working closely with our teams to achieve new successes,” Xu said. “I am confident China will continue to play a key role in Airbus global strategy.”

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