Virgin order $5.5B US Deal to Airbus...WHO SAID AIRCRAFT INDUSTRY IS DEAD??? LOL
Virgin orders Airbus jets worth over $5.5 bn
Thursday, August 05, 2004 12:49:16 PM ET
New Ratings
LONDON, August 5 (New Ratings) – Virgin Atlantic Airways announced a definitive agreement with Airbus today for new aircraft orders in a deal worth over $5.5 billion.
Virgin Atlantic Airways has ordered 13 new A340 passenger jets from Airbus, jointly owned by EADS (EAD.ETR) and BAE Systems. According to the agreement, Virgin Atlantic Airways would have the option of ordering 13 additional aircraft from the European aircraft manufacturing giant. The new aircraft orders from Virgin Atlantic Airways are in-line with the company's ongoing expansion program. The company reportedly intends to double its business size in the next five years and is likely to begin new flights to Australia and the Caribbean. The deal is a major setback for Airbus' US-based competitor, Boeing Company.