Airbus Wins A330 Order as Boeing Gets Deal With Avolon

Airbus Wins CIT’s A330 Order as Boeing Gets 737 Deal With Avolon
Boeing Commercial Airplanes CEO Ray Conner, left, reacts during a news conference with Avolon Leasing Group CEO Domhnal Slattery, on the third day of the Farnborough International Air Show in Farnborough. Photographer: Matthew Lloyd/Bloomberg

Airbus SAS won an order for five A330 wide-body jets from lessor CIT Group Inc. and Boeing Co. said it agreed with Avolon Aerospace Leasing Ltd. to sell as many as 30 single-aisle planes.

The CIT sale follows an accord earlier this year with the New York-based company for five more A330s, according to a statement issued today at the Farnborough air show. The new planes would have a list value of about $1.1 billion, based on average retail prices for passenger models in the A330 family.

Boeing’s agreement with Dublin-based Avolon is for 15 planes from the 737 Max family with upgraded engines and 10 from the current version of the top-selling 737 line. It also includes reconfirmation rights for five more Max jets and has a list-price value of $2.3 billion, Boeing said in a statement.

Airbus announced a separate agreement with China Aircraft Leasing Co. for 36 single-aisle planes, including eight A321s, the largest model in the A320 line. Once it’s confirmed as an order, the purchase would have a list value of $3.3 billion, based on retail prices. Airlines typically buy at a discount.

Airbus is introducing the A320neo with upgraded engines to boost fuel efficiency later this decade to replace the existing A320 line, the top seller at the Toulouse, France-based planemaker and a competitor to the 737.

Airbus also announced plans at the Farnborough show near London to increase the range of the A330 by 400 nautical miles (741 kilometers).

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