Singapore Airlines places a big order with Airbus

Airbus SAS might be trailing rivals Boeing in terms of orders this year but they are still doing pretty good. The company has just received a contract from Singapore Airlines Ltd. for A380 superjumbos and the new A350 XWB.

This is the first order for the new plane company showcased this week. The order is worth around $7.5 billion if we look at the market price of these planes.

Singapore Airlines happens to be the most profitable airline company in the Asian region and they have also retained an option to buy 20 more A350s and 6 more A380s. They would also be leasing 19 A330-300s from Airbus. The deliveries of the A350 planes would begin in 2012.

Market analysts believe that this is very good news for Airbus which is struggling with the deliveries of the orders it already has in hand due to delays in the production of some of its new planes. They also believe that the A350 XWB plane would help Airbus compete more effectively against Boeing.