Philippine Airlines to Buy ECA financed Airbus 320s

(Business Week, Manila, 8 November 2005) Philippine Airlines said Tuesday it will purchase nine new Airbus 320 jets over the next three years for its refleeting program. The company plans to borrow from export credit agencies to fund the refleeting. In other business news, Boeing claimed a growing advantage over Airbus at the Dubai Air Show, announcing $US14.3 billion in aircraft orders vs US$8.24 for Airbus, pushing the rivals closer to a record tally this year as airlines seek more fuel-efficient models. The deals at the Dubai Air Show meant the world's two biggest aircraft makers are close to doubling orders booked in 2004. Approximately a third of all ECA long-term lending goes to air transport.