China in discussions to invest $20 billion in Airbus, Boeing aircraft

posted on 4th June 2018 by yumna
China in discussions to invest $20 billion in Airbus, Boeing aircraft

The Chinese state government-backed company, China Aircraft Leasing Group Holdings Ltd (CALC), is reportedly in talks with both Airbus and Boeing to place orders of nearly 200 planes valued at $20 billion.

Massive demand for Asian carriers is behind the gigantic purchase intended by CALC, as Boeing estimated that the region will need 16,050 new aircraft by 2036 to keep up with travel trends.

IATA also reported that Asia is likely to outpace the US as the world’s biggest air travel market by 2022.

Bloomberg reported that the company is looking at purchasing a fleet of Boeing 737’s and Airbus A320’s for short-haul and Boeing 787’s and Airbus A350 for long-haul.