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Qantas in jumbo buy
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November 28, 2000: 8:36 p.m. ET
Australian airline to buy 31 jumbo jets worth $4.6B from rivals Boeing, Airbus
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NEW YORK (CNNfn) - Qantas Airways Ltd., the Australian carrier, announced late Tuesday that it has placed a large order for jumbo jets, split between Boeing and Airbus Industrie.
The airline will buy a total of 31 new aircraft, including 12 of Airbus' planned A3XX superjumbo jets, another 13 Airbus aircraft and six Boeing upgraded 747-400s, the first orders for that Boeing model.
Qantas says the total cost of the buy will be $4.6 billion over 10 years.
Airbus and Boeing (BA: Research, Estimates) have been battling for business in the superjumbo jet category, with Airbus pinning it's hopes on the giant, all-new proposed A3XX, while Boeing has stuck with an expanded version of the 747.
The order, which includes 13 Airbus A330-200s and A330-300 aircraft, would be funded through a mix of operating cash flow, debt and equity to maintain Qantas's existing gearing levels.
Shares in Qantas, whose existing core fleet of 101 aircraft is all Boeing, were down three cents at A$3.52 in early trade Wednesday in Sydney.
-from staff and wire reports 
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Qantas
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