Airbus Gains on Orders from Indigo Partners, UAE Air Force
Investing.com
Published Nov 15, 2021 05:50AM ET
By Dhirendra Tripathi
Investing.com – Airbus stock (PA:AIR) traded 2% higher in Paris Monday as the European giant revealed new orders for both passenger and military planes at the Dubai airshow over the weekend.
The order for passenger aircraft comprises delivery of 255 A321neo family planes to airlines that are part of private equity company Indigo Partners' portfolio. The companies are Hungary-based Wizz Air (LON:WIZZ), U.S.-based Frontier and Latin America-based Volaris and JetSMART.
The planes, which are Airbus' most recent narrow-body plane, can seat between 170 to 220 passengers. The order size is estiimated at $30 billion before the usual industry discounts. Airbus didn't disclose any financial details.
The order adds to evidence that airlines are regaining confidence in their outlook after over a year and a half devastated by the pandemic. However, there is still no visible pickup yet for widebody aircraft, indicating that the recovery in long-haul is still expected to lag that in regional traffic.
In another order disclosed Sunday, UAE has ordered two additional Airbus A330 multirole tanker transport for its defense forces.
The five-day Dubai air show ends Thursday. The event usually generates billions of dollars in orders for the likes of Airbus and Boeing (NYSE:BA) and engine-makers like CFM (NYSE:GE) and Pratt & Whitney (NYSE:RTX).
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