Airbus gets $15 billion in orders, commitments

AP News
Posted: Jun 20, 2011 12:18 PM
Airbus gets $15 billion in orders, commitments

European jet maker Airbus SAS took in orders and commitments for 142 aircraft worth $15 billion at list prices on the first day of the Paris Air Show, the company said Monday.

Of note were firm orders for 90 of its A320neo, a version of the workhorse jet that's been revamped to make it more fuel efficient.

GE Capital Aviation Services and Sweden's SAS AB in combination made firm orders worth over $8 billion for the A320neo, a jet that Airbus is expected to begin delivering in 2015. Los Angeles-based Air Lease Corporation also made a commitment for 50 of the aircraft including 14 options.

The European planemaker announced the deals at the Paris Air Show, where the search for a cheaper and cleaner way to fly is emerging as a major theme.

With airlines squeezed by skyrocketing fuel prices, Airbus has booked 470 orders and commitments for the A320neo since its commercial launch last December, even though the plane won't be available for another four years.

GE Capital Aviation Services ordered 60 A320neo jets worth about $5.5 billion at list prices, though buyers often strike discounts.

Swedish airline group SAS ordered another 30 for around 18 billion kronor ($2.8 billion) as part of an effort to renew its fleet. SAS's order includes an option to buy an additional 11.

Delivery of SAS' aircraft will start in the second half of 2016 and should be completed during 2019.

The acquisition is part of SAS's move to concentrate its short-and medium distance fleet into two types of aircraft: Airbus A320 and Boeing's 737NG.

Air Lease Corporation's commitment, which is not yet a firm order, is for 50 A320neos including options for 14 more. ALC also made a firm order for 11 Airbus A330s and one A321.

Airbus also announced an order for four of its A330-300 aircraft from Saudi Arabian airlines. The wide-bodied, twin-engined medium to long range A330-300 has a list price of euro223 million ($318 million). The Saudi airline already has 8 of the 330-300s in service.


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