China buys 10 Airbus planes, more to come

BEIJING (Reuters) - China on Monday signed a framework agreement to buy an undisclosed number of aircraft from Airbus (EAD.PA: Quote, Profile, Research, Stock Buzz).

The Toulouse-based plane maker had been hoping to firm up a contract to sell 150 aircraft in a deal that could have been worth more than $15 billion.

In the event, the only firm order announced on Monday was with China Southern Airlines Co Ltd (1055.HK: Quote, Profile, Research, Stock Buzz)(600029.SS: Quote, Profile, Research, Stock Buzz), which is buying 10 twin-aisle A330 aircraft in a deal worth $1.8 billion at list prices.

The deals were signed as French President Nicolas Sarkozy and Chinese President Hu Jintao watched.

China has also agreed to take a 5 percent risk-sharing stake in the development of the A350. The $10 billion project is Airbus's attempt to catch up with Boeing's 787 Dreamliner in the fast-growing mid-sized jetliner market.

(Reporting by Tim Hepher, editing by Ken Wills)