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Philippines Airlines buys 10 more Airbus jumbo jets

AFP/Rémy Gabalda

Philippines Airlines (PAL) confirmed that it is buying 10 jumbo jets from Toulouse-based European aircraft-builder Airbus on Saturday, as French Prime Minister Jean-Marc Ayrault visited Manila to promote Franco-Asian trade.

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The 2.5-billion-dollar (1.9-billion-euro) deal, which was announced on 28 September, was confirmed by PAL and Airbus representatives at the Manila Business Forum on Saturday.

PAL bought 54 planes from Airbus in August for 7.0 billion euros (5.4 billion euros).

The new acquisitions will replace A330 currently flying medium-haul flights for the airline.

The first 10 planes of the 64-strong order should be delivered in 2013.

PAL is the oldest airline in Asia.

It is facing stiff competition from low-cost Philippine airline, Cebu Pacific, which ordered ordered 23 Airbus A321s in 2011 to add to its fleet of 25 A320s.

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