Lufthansa board okays aircraft buy

FRANKFURT: Deutsche Lufthansa AG's supervisory board has approved orders to buy seven long-haul jets from the Airbus affiliate of EADS, the German airline said on Wednesday. 

The airline said in a statement that the A340-600 aircraft, scheduled for delivery in 2006 and 2007, would mainly replace its aircraft serving its profitable long-haul business. 

It did not disclose the purchase price. Based on the Airbus list price for 2004, the orders would be worth up to US$1.5bil. 

Airbus A340-600 competes with Boeing's B777-300ER. 

“We are gearing for systematic growth. Our two hubs in Frankfurt and Munich offer further perspectives in long-haul traffic,” Lufthansa chief executive Wolfgang Mayrhuber said in a statement. 

Lufthansa, which already has 10 of the type in its fleet, said the orders were included in its investment planning. – Reuters  

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