Aircraft order ‘worth more than $5bn to the UK economy’

China Aviation Supplies Holding has signed an agreement to acquire 102 aircraft from Airbus, a deal that is likely to be worth more than $5bn to Britain’s economy.

The deal, signed in Paris yesterday, comprises 66 new orders made up of 50 A320 aircraft, six A330s and 10 A350 XWBs.

Speaking about the announcement, UK business minister Mark Prisk said: ‘This represents fantastic news for the UK aerospace sector, with these new orders worth more than $5bn to the UK economy.

‘They will not only provide a tremendous boost to the 10,000 Airbus workers at Filton and Broughton, but also to a large number of aerospace supply chain companies spread right across the UK.’

Earlier this week Boeing raised its outlook for aircraft in demand in China, predicting the country will require 4,330 new commercial aircraft valued at $480bn (£297bn) over the next 20 years.