China stops purchase of new planes in 2009

via WikipediaAnother setback for both the US and Europe as China's central airline regulator CAAC has decided to freeze the purchase of new planes for 2009, here according to La Tribune (french). Both Airbus and Boeing will suffer from the effort that should reduce China's foreign debt (although the country still a a bit of a trade deficit).
China's airline companies are heading for a consolidation, here noted by Allroadsleadtochina, suggesting a possible bankruptcy.
Things look very grim for this industry indeed.

Commercial
Is your China business going to be hurt by the economic downturn? Or are here actually opportunities? You can ask our leading voices at the China Speakers Bureau.

Arthur Kroeber
by Fons1 via Flickr

Related articles by Zemanta

• Turbulent economy stalls airplane parts factory for Yarmouth
• China is starting to sound like a normal creditor country
• Why China's consumption will go strong in 2009 - Paul French
• China's first home-made jet flies
• New Boeing 787 Jetliner Faces Another Delay