Qatar buys 18 Airbus planes, takes 16 options
Qatar buys 18 Airbus planes, takes 16 options
Thursday June 19, 5:31 am ET
LE BOURGET, France, June 19 (Reuters) - Qatar Airways announced a $5.1 billion deal for Airbus planes on Thursday, joining rival Emirates and Korean Air (KSE:03490.KS - News) with plans to expand despite a record industry slowdown.
Chief Executive Akbar al-Baker took a major step in his plan to double Qatar's 24-plane all-Airbus fleet with the purchase of 18 aircraft included in a deal during the Paris Air Show, the industry's biggest showcase.
A company official confirmed the figures ahead of a news conference, including additional options for 16 more Airbus planes and an agreement to lease two more.
The deal marked a blow for Airbus rival Boeing Co (NYSE:BA - News) which Qatar said last week was still in the running to possibly provide it with several of its wide-bodied 777 model.
Of the firm orders, GE Aircraft Engines (NYSE:GE - News) will power 14 A330s and British aero-engine maker Rolls-Royce (London:RR.L - News) will supply engines for two A340-600s.