Airbus Signs MOU for $4.4 Billion in Plane Sales
Airbus may soon win a sizable airplane sales order from "long-standing customer" Kuwait Airways (KA), the European plane builder announced Monday.
Valued at $4.38 billion at list prices, the memorandum of understanding describes a deal in which KA would purchase 10 of Airbus's widebody A350-900 jets, plus 15 narrowbody A320neos. The airline already operates a fleet that includes three A320 aircraft, three A310s, five A300s, and four A340s.
Commenting on the agreement, KA Chairman Mr. Jassar Al Jassar called Airbus's jets "the ideal choice for an airline like ours," and noted that the A350s, in particular, would "strengthen our long haul route development," while the A320s would "further boost our regional route network."
Airbus responded by commending KA for choosing to buy "the industry's best-in-class cabin experience on both long and short haul routes, flying them comfortably in the widest seats in all classes."
Last month, Airbus inked "orders and commitments" for 160 of its aircraft from other airlines in the region, boasting of $44 billion worth of such deals inked over the course of the Dubai Airshow.
The article Airbus Signs MOU for $4.4 Billion in Plane Sales originally appeared on Fool.com.Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.