Safran & Chinese jet signs a deal

French aerospace and defence industries group Safran on Monday will sign a five-billion-dollar contract to provide engines for China's first large passenger jet, group president Jean-Paul Herteman said. The C919 -- built by state-linked Commercial Aircraft Corporation of China (COMAC) and due to be ready for service in about 2016 , according to state media -- is seen as a future competitor to the Airbus A320 and the Boeing 737. "This is a significant contract -- the launch of a new aircraft only happens once every 10 or 15 years," Herteman told reporters. The contract was due to be signed later Monday during an official visit to China by French Prime Minister Francois Fillon.