Airbus near new deal with China

European aircraft maker Airbus is close to a deal with China for an order of at least five new A380 planes worth 1.4 US billion dollars.

Chinese regulators and airlines have reached a preliminary agreement for an unspecified number of A380 aircraft, Lu Xiaosong, spokesman for the China Aviation Supplies Import and Export Group, told The Wall Street Journal financial daily.

But several factors are delaying a final deal, including a 15-year-old European ban on selling military equipment to China, Lu said.

Last month, Philippe Camus, the chief executive officer of the European Aeronautic Defense and Space Company, which is Airbus' parent company, expressed confidence that China would sign an order for A380 aircraft.

Source: CRI