Airbus Wins A330 Order as Boeing Gets Deal With Avolon

Airbus SAS (EAD) won an order for five A330 wide-body jets from lessor CIT Group Inc. (CIT) and Boeing Co. (BA) said it agreed with Avolon Aerospace Leasing Ltd. to sell as many as 30 single-aisle planes. 

 The CIT sale follows an accord earlier this year with the New York-based company for five more A330s, according to a statement issued today at the Farnborough air show. The new planes would have a list value of about $1.1 billion, based on average retail prices for passenger models in the A330 family.

Boeing’s agreement with Dublin-based Avolon is for 15 planes from the 737 Max family with upgraded engines and 10 from the current version of the top-selling 737 line. It also includes reconfirmation rights for five more Max jets and has a list-price value of $2.3 billion, Boeing said in a statement.

Airbus announced a separate agreement with China Aircraft Leasing Co. for 36 single-aisle planes, including eight A321s, the largest model in the A320 line. Once it’s confirmed as an order, the purchase would have a list value of $3.3 billion, based on retail prices. Airlines typically buy at a discount.

Airbus is introducing the A320neo with upgraded engines to boost fuel efficiency later this decade to replace the existing A320 line, the top seller at the Toulouse, France-based planemaker and a competitor to the 737.

Airbus also announced plans at the Farnborough show near London to increase the range of the A330 by 400 nautical miles (741 kilometers). 

Source:  http://www.bloomberg.com