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Airbus gets $2.5B order
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February 3, 1998: 9:23 a.m. ET
Iberia gives consortium largest single order ever from a European carrier
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NEW YORK (CNNfn) - Airbus Industrie has received the largest single European order for new aircraft, valued at more than $2.5 billion, from Iberia Airlines SA of Spain, the European consortium said Tuesday.
Spain's flag carrier agreed to purchase 50 aircraft with an option for 26 additional planes to be delivered during the next six years.
The order is for 36 A320s, 31 A321s and 9 A319s, the aircraft maker said. The planes are valued at more than 400 billion pesetas ($2.57 billion) and will be used for short- and medium-range flights.
The deal represents the latest effort by the world's second-largest aircraft maker to surpass arch-rival Boeing Co. Iberia plans to use the new aircraft to replace 28 Boeing 727s, 26 DC-9s and 6 older A300s currently in its fleet.
Separately, Iberia said it plans to lease eight Boeing 757 aircraft in 1998 and another eight planes in 1999.
"It is a leasing operation for Iberia, which means it does not go onto the balance sheet," Iberia's Chairman Xabier de Irala told a news conference in Madrid.
-- from staff and wire reports
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