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Qatar signs $5.1bn Airbus order
LE BOURGET, France (Reuters) -- Qatar Airways announced a $5.1 billion deal for Airbus planes on Thursday, joining rival Emirates and Korean Air with plans to expand despite a record industry slowdown. Chief Executive Akbar al-Baker took a major step in his plan to double Qatar's 24-plane all-Airbus fleet with the purchase of 18 aircraft in a deal during the Paris Air Show, the industry's biggest showcase. A company official confirmed the figures ahead of a news conference, where a contract was signed by Qatar Chief Executive Akbar al-Baker and Airbus Chief Executive Noel Forgeard. The official said it included additional options for 16 more Airbus planes and an agreement to lease two more. The deal marked a blow for Airbus rival Boeing Co which Qatar said last week was still in the running to possibly provide it with several of its wide-bodied 777 model. Of the firm orders, GE Aircraft Engines will power 14 A330s and British aero-engine maker Rolls-Royce will supply engines for two A340-600s. Qatar is also buying two of the smaller A321 model. Top long-haul airlines have struggled since 2001, with oversupply, weak economies and feisty low-fare carriers all eating into earnings. But the picture has been different in the Middle East where government-run carriers have sustained demand for the industry's newest planes. Qatar's fast-growing rival Emirates ordered 41 Airbus aircraft including the hefty 555-seat A380 on Monday at Paris, where Boeing's biggest deal was a memorandum of understanding to sell nine planes to Korean Air. Korean also signed an MOU with Airbus for five planes. Less than a decade old, Qatar is one of the fastest growing airlines in the world and aims to boost destinations to 50 from 41 this year. It serves London, Paris and Rome among other European stops, though is focused mostly on the Middle East and Africa.
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