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Airbus Signs MOU for $4.4 Billion in Plane Sales

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Airbus (NASDAQOTH: EADSY  ) may soon win a sizable airplane sales order from "long-standing customer" Kuwait Airways (KA), the European plane builder announced Monday.

Valued at $4.38 billion at list prices, the memorandum of understanding describes a deal in which KA would purchase 10 of Airbus's widebody A350-900 jets, plus 15 narrowbody A320neos. The airline already operates a fleet that includes three A320 aircraft, three A310s, five A300s, and four A340s.

Commenting on the agreement, KA Chairman Mr. Jassar Al Jassar called Airbus's jets "the ideal choice for an airline like ours," and noted that the A350s, in particular, would "strengthen our long haul route development," while the A320s would "further boost our regional route network."

Airbus responded by commending KA for choosing to buy "the industry's best-in-class cabin experience on both long and short haul routes, flying them comfortably in the widest seats in all classes."

Last month, Airbus inked "orders and commitments" for 160 of its aircraft from other airlines in the region, boasting of $44 billion worth of such deals inked over the course of the Dubai Airshow.

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Rich Smith

I love things that go "boom." Sonic or otherwise, that means I tend to gravitate towards defense and aerospace stocks. But to tell the truth, over the course of a dozen years writing for The Motley Fool, I have covered -- and continue to cover -- everything from retailers to consumer goods stocks, and from tech to banks to insurers as well. Follow me on Twitter or Facebook for the most important developments in defense & aerospace news, and other great stories besides.

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11/25/2015 3:46 PM
EADSY $17.80 Up +0.28 +1.60%
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