storminpilot
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http://quote.bloomberg.com/apps/news?pid=10000102&sid=aHcvfTliWslA&refer=uk
Virgin to Order More Than 100 Planes From Airbus, Observer Says
May 2 (Bloomberg) -- Virgin Group Ltd., the company owned by billionaire Richard Branson, is to order more than 100 airplanes from Airbus SAS for its new low-cost U.S. airline, the Observer reported, without saying where it got its information.
Virgin will buy a mix of Airbus A319 and A320 planes in a transaction that may be worth more than $3 billion, the Observer said. The transaction will be financed by Gecas, the leasing division of General Electric Co., it said.
Fred Reid, the chief executive of the airline, currently known as Virgin USA, will unveil the details in New York this week, the Observer said.
He is expected to announce the delivery of 30 planes in the 18 months following the airline's launch, likely to be in the first quarter of next year, the newspaper said. Up to 100 more will be optioned over the following three to five year period, it said.
(Observer, 05-02, Business Section, 1)
For the newspaper's Web site, see {TGDN <GO>}
To contact the reporter on this story:
John Beresford-Peirse in London [email protected]
To contact the editor of this story:
Catherine Hickley, or [email protected]
Virgin to Order More Than 100 Planes From Airbus, Observer Says
May 2 (Bloomberg) -- Virgin Group Ltd., the company owned by billionaire Richard Branson, is to order more than 100 airplanes from Airbus SAS for its new low-cost U.S. airline, the Observer reported, without saying where it got its information.
Virgin will buy a mix of Airbus A319 and A320 planes in a transaction that may be worth more than $3 billion, the Observer said. The transaction will be financed by Gecas, the leasing division of General Electric Co., it said.
Fred Reid, the chief executive of the airline, currently known as Virgin USA, will unveil the details in New York this week, the Observer said.
He is expected to announce the delivery of 30 planes in the 18 months following the airline's launch, likely to be in the first quarter of next year, the newspaper said. Up to 100 more will be optioned over the following three to five year period, it said.
(Observer, 05-02, Business Section, 1)
For the newspaper's Web site, see {TGDN <GO>}
To contact the reporter on this story:
John Beresford-Peirse in London [email protected]
To contact the editor of this story:
Catherine Hickley, or [email protected]
