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Airbus soars on Emirates deal
http://www.sina.com.cn 2003/06/17 11:42  Shanghai Daily

  Airbus SAS and Boeing Co, the world's two biggest planemakers, won orders from Emirates, the Middle East's fastest-growing airline, for a total of 67 new planes, which the carrier valued at as much as US billion.

  Thesgroupsincludes 21 of Airbus' planned double-decker A380 airliners, 20 Airbus A340s and 26 Boeing 777s, the planemakers said at Paris Air Show press conferences. Boeing's figure includes 22 planes already onsgroupsfrom General Electric Co and American InternationalsgroupsInc's plane-leasing units.

  Airbus will probably surpass Chicago-based Boeing as the world's largest planemaker this year as it delivers more aircraft than its US rival for the first time and gets more orders for new airliners, analysts said. The 555-seat A380 will become the world's biggest passenger jet when it enters service in 2006, about 35 percent larger than Boeing's 747, which seats 420.

  "I always expected Airbus to win more orders than its largest competitor both this year and next," said Klaus Breil, who helps oversee about US.9 billion at Adig Investments in Frankfurt, including 1 million shares in Airbus' 80 percent owner European Aeronautic, Defense & Space Co.

  "Thesgroupsfor A380s "leaves Boeing looking rather foolish," said Sandy Morris, an analyst at ABN Amro in London. "Over the last few years, Boeing has been saying that there's not a market for a large plane such as the A380. Thesgroupsalso shows extraordinary ambitions on Emirates' behalf."

  "Toulouse, France-based Airbus expects to win orders for about 250 planes this year, 40 percent more than it predicted in January, because it's taking business from Boeing.

  ?§The Emiratessgroupswith Airbus "is the largest widebodysgroupsever, both in terms of value and the number of planes," said Airbus Chief Executive Officer Noel Forgeard.

  Forgeard reiterated that the planemaker expects to deliver 300 planes this year, topping Boeing's 280. He had forecast earlier that Airbus and Boeing would win a total of about 350 orders this year, roughly split evenly.

  Dubai-based Emirates said the Airbussgroupsis worth US.5 billion, the planes' combined value at delivery. At list prices, the Airbus aircraft are worth US.5 billion.

  Emirates will lease 14 of the 305-seat Boeing 777s through GE's aircraft-leasing division and the remaining 12 from AIG's International Lease Finance Corp unit. Emirates is also leasing two 313-seat Airbus A340s and two A380s from International Lease Finance, the airline said.

  The two leasing companies already have a combined 22 of the Boeing planes on order, and GE will have tosgroupsfour more 777s from Boeing to fulfill the commitment, said Boeing's Todd Blecher.




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