Airbus and Air China Set for Deal

Airbus has reportedly clinched a deal to sell 23 commercial jets to China for about $1.3 billion. The jets include Airbus A319s and A320s, media reports said, citing German government officials accompanying Chancellor Gerhard Schroeder on a trip to Beijing. The buyer is Chinese flag carrier Air China Ltd., according to Reuters. Although the sale is positive for Airbus, a joint venture of European Aeronautic Defence & Space Co. and BAE Systems PLC, the company has yet to sign a deal to sell China its future A380 double-decker superjumbo jet. China has been stalling the A380 deal because of the European Union’s refusal to lift an arms embargo against Beijing, The Wall Street Journal reported last week.