EADS Says A320 Contract With China Worth 7-8 Billion Dollars

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Airbus' A320.

Paris (AFP) Dec 08, 2005
A contract for the sale by Airbus to China of 150 A320 airliners is worth 7-8 billion dollars (6.0-6.8 billion euros), the joint president of the Airbus parent company EADS said on Thursday.

The catalogue value of the order reported on Monday was 9.7 billion dollars. However, it is customary for such contracts to be the subject of hard and confidential negotiations over discounts and specification.

The newspaper Le Monde had put the final value at 7.6 billion dollars.

After the announcement on Monday, the price of shares in the European Aerospace Defence and Space Company (EADS), which owns 80 per cent of Airbus, rose by 2.74 percent to 32.67 euros.

In early afternoon trading on Thursday the price had slipped by 0.24 percent since the closing price on Wednesday to 32.63 euros.

The joint president of EADS, Noel Forgeard, told French radio Europe One on Thursday that the contract was worth 7.0-8.0 billion dollars.

This figure is about 22.5 percent less than the catalogue figure of 9.7 billion dollars.

Source: Agence France-Presse

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