Airbus steals show at Paris

[tycoonjack]

Airbus steals show at Paris

Airbus is set to overtake US rival Boeing in the number of annual aircraft deliveries for the first time in more than 25 years, the company revealed at the Paris Airshow.

The European aircraft company said it was on target to deliver 300 jets this year, despite facing the industry's worst ever downturn.

In January, Airbus had predicted it would win only about 175 orders in 2003, with the market for civil aircraft suffering a sharp decline amid global uncertainty since the 11 September attacks.

Speaking at the Paris Airshow, Airbus head Noel Forgeard said he was seeing early signs of a pick-up.

Airbus wins $12.5bn deal

Airbus has won an order for 41 new planes from the Dubai-based airline Emirates, in the first major deal signed at this year's Paris Airshow.

The deal is worth about $12.5bn (£7.5bn), according to Airbus' assessment of future catalogue prices, and includes 21 of the new super-jumbo A380s.

The news is likely to safeguard some jobs at Rolls Royce, which has been awarded Airbus' £900m contract to supply engines for the 20 A340s that are also part of the deal.

The industry's crisis means the planes are likely to have been sold at a heavy discount from the catalogue prices being quoted.