Open

Coming up

Don't miss

Replay


LATEST SHOWS

DEBATE

Gaza: A Truce At All Costs?

Read more

AFRICA NEWS

Central African Republic: Brazzaville ceasefire talks deliver fragile deal

Read more

FOCUS

Sluggish tourist season in Crimea

Read more

ENCORE!

Bartabas : Mixing Christ with Spanish music and dancing horses

Read more

IN THE PAPERS

Shifts in the propaganda war waged between Israelis and Palestinians

Read more

IN THE PAPERS

French MPs face quandary in pro-Palestinian rallies

Read more

THE INTERVIEW

Yezid Sayigh, Senior Associate at the Carnegie Middle East Center in Beirut

Read more

#TECH 24

Mind the Gender Gap : getting more women into the tech sector

Read more

INSIDE THE AMERICAS

Bolivian children: heading to work aged 10

Read more

  • France says missing Algerian plane 'probably crashed'

    Read more

  • 51 French nationals aboard missing Algerian plane

    Read more

  • Deadly strike on UN shelter in Gaza Strip

    Read more

  • Pope meets with Sudanese Christian woman sentenced to death for apostasy

    Read more

  • Algerian jet vanishes: 'We should eliminate the missile hypothesis'

    Read more

  • Italy’s Nibali cruises to easy victory in 18th stage of Tour de France

    Read more

  • Iraqi parliament elects moderate Kurd as president

    Read more

  • US, European aviation agencies lift travel restrictions to Tel Aviv

    Read more

  • No end to fighting until Israel ends Gaza blockade, Hamas says

    Read more

  • Two foreign women shot dead in western Afghanistan

    Read more

  • At least 60 killed in attack on prison convoy near Baghdad

    Read more

  • Cycling is ‘winning the war on doping,’ says expert

    Read more

  • Ceasefire agreed for Central African Republic

    Read more

  • Can Jew-kissing-Arab selfie give peace a viral chance?

    Read more

  • Botched Arizona execution takes nearly two hours

    Read more

Business

Virgin orders 10 Airbus jets worth $2.1 billion

Text by NEWS WIRES

Latest update : 2009-06-22

British airline company Virgin Atlantic, 51%-owned by Richard Branson, ordered 10 mid-sized Airbus passenger jets worth $2.1 billion. The planes, which each sit up to 270 passengers, will be delivered between 2011 and 2012.

AFP - British airline Virgin Atlantic marked its 25th anniversary Monday by announcing what it described as a recession-beating deal for 10 Airbus passenger jets worth 2.1 billion dollars (1.5 billion euros).
   
Richard Branson's Virgin said it had ordered 10 mid-sized and fuel-efficient A330-300 passenger in a further sign it was doing far better at beating the downturn compared to its beleaguered rival British Airways.
   
"Despite the worst economic conditions in decades, we are focusing on sustainable growth in the years ahead using the most fuel-efficient aircraft  possible," Virgin Atlantic's chief executive Steve Ridgway said in a statement.
   
"Virgin Atlantic has a strong history of successfully investing during a downturn and our Airbus order today sends a strong signal that now is the time to invest, in order to help protect jobs and get the world's economy moving again," he added.
   
Virgin said the planes, which each sit up to 270 passengers, would be delivered between 2011 and 2012.
   
"They will also assist future growth, helping Virgin Atlantic to fly to new destinations from London such as Beijing, Cancun and Vancouver," the airline said.
   
The deal is also a further boost for European plane manufacturer Airbus, which won firm orders for 58 aircraft at last week's Paris Air Show. US rival Boeing's haul was limited to only two planes.
   
During the 2007 edition of the biennial show, and well before the onset of a global economic crisis that drained demand for aircraft and air travel, Airbus and Boeing won 800 orders worth more than 100 billion dollars.
   
On Monday meanwhile, Virgin Atlantic celebrated its 25th anniversary with a special flight to recreate the carrier's first-ever journey between London and New York on June 22, 1984.
   
Invited on board to fly alongside Branson were England cricketer Kevin Pietersen and fashion designer Vivienne Westwood.
   
Virgin enjoyed soaring profits last year despite a vicious recession in Britain, the eurozone, the United States and elsewhere, as it benefited from rising demand for premium air travel.
   
Times are not so good, however, for British Airways. Over the weekend, reports emerged that BA was considering selling its OpenSkies subsidiary only a year after acquiring it.
   
British Airways, which last week asked its staff to consider temporarily working for free as it looks to slash costs, is believed to be considering winding up or selling the subsidiary, according to the Observer newspaper.
   
Virgin Atlantic, which is not listed on the stock market, is 51-percent owned by tycoon Branson. Singapore Airlines owns the remaining 49 percent.

Date created : 2009-06-22

COMMENT(S)