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 Airbus Ahead In Race For Virgin Aircraft Deal
Aviation Airbus is "marginally ahead" of rival Boeing in a battle to win a USD$5 billion aircraft order from Virgin Atlantic, The Sunday Telegraph newspaper reported. "We are on the verge of putting in a very big order," Virgin Atlantic Chairman Richard Branson was quoted by the newspaper as saying. "Things will come to a head in the next seven to 14 days. Airbus is marginally ahead. That is a USD$5 billion order." The Virgin order, which is for potentially 30 more A340s or Boeing 777s, has been the subject of a bitter battle between Airbus and Boeing, the world's top two commercial jet makers. Virgin and Airbus have a long-standing alliance that Boeing has attempted to break up by trying to persuade Virgin to buy its 777 twin-jets rather than the Airbus A340.

Separately, The Sunday Times newspaper reported that Branson had secured the financial backing of Greenbriar Equity Group, a US investment firm, for Virgin America, his new US discount airline. Citing government sources in Washington, the newspaper said that Greenbriar had agreed to head a consortium of US investors that will take a 51 percent stake in the airline. The United States currently restricts foreign ownership of its airlines, allowing a maximum 25 percent voting stake and 49 percent total equity. Greenbriar is headed by Gerald Greenwald, a former head of United Airlines, the world's second-largest carrier.

  Posted on Monday, July 26 @ 07:52:57 PDT by akzah
 
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