Summary Box: Airlines to buy $3.5T in new jets

AP News
Posted: Feb 15, 2012 11:20 AM
Summary Box: Airlines to buy $3.5T in new jets

SKY HIGH: Global airlines will need $3.5 trillion in new planes through 2030, with more than a third of that demand coming from Asia, Airbus's CEO said Wednesday.

ASIA BATTLEGROUND: Airbus is wrestling rival Boeing for the burgeoning Asian market. Asia provided half of Airbus's 1,600 firm orders last year. Boeing scored its biggest deal ever when Indonesian budget carrier Lion Air agreed to buy 230 planes for $22 billion.

WHAT'S NEO: The A320neo, which seats up to 180 passengers, has become a favorite of Asia's growing budget airline sector. Airbus delivered 546 of them to Asia last year.