BA Parent’s $20 Billion Airbus Deal Backs Spanish Turnaround
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British Airways parent IAG SA’s plan to purchase $20 billion worth of Airbus SAS short-haul planes underscores Chief Executive Officer’s Willie Walsh’s drive to end losses in Spain and back discount unit Vueling SA.
The accord for as many as 220 A320s, including the Neo version with new engines due from 2015, includes 62 firm orders for Vueling, London-based IAG said in a statement late yesterday. The firm orders are valued at $5.4 billion at list price, although airlines typically get steep discounts.