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Airbus wins $3.9B order
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September 2, 1997: 8:37 a.m. ET
Airplane leasing firm ILFC orders 65 jets from European consortium
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NEW YORK (CNNfn) - European aerospace consortium Airbus Industrie launched a strike against rival Boeing Tuesday, acing an almost $4 billion jet deal.
Airbus received an order from International Lease Finance Corp. to build 50 jets, which will include models A319, A320 and A321, along with 15 A330 jets. While Airbus didn't specify the value of the order, it is estimated to be worth about $3.9 billion.
Los Angeles-based ILFC, which leases aircraft to air carriers, is Airbus' largest customer, accounting for 11 percent of its business. Deliveries will begin in the year 2000 and will be spread over five years.
The A319, A320 and A321 aircraft seat 124, 150 and 185 passengers respectively, while the A330 seats 253.
The deal is the latest salvo in the battle between Boeing and Airbus, the consortium comprised of Daimler-Benz of Germany, Aerospatiale of France, British Aerospace and Spain's Construcciones Aeronauticas SA (CASA).
The European Union recently approved Boeing's $15 billion merger with McDonnell Douglas Corp., despite the objections of the Toulouse, France-based Airbus.
Boeing controls about 60 percent of the world's aircraft market, with McDonnell Douglas holding about 4 percent.
Still, Airbus is a strong competitor, controlling the rest of the aircraft manufacturing market. It currently has firm orders for 2,392 planes from 135 customers around the world.
-- Randy Schultz
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Airbus Industrie
Boeing
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