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(Alliance News) - International Consolidated Airlines Group SA on Thursday said it has made a firm order for USD1.74 billion worth of Airbus SE jets.
The London-based airline said it is converting 14 Airbus A320neo options, announced back in August 2013, into firm orders for 11 A320neos and three A321neos.
The planes, worth USD1.74 billion at list prices, will be delivered between 2024 and 2025 and will be used to replace the A320ceo family aircraft in the group's short-haul fleet.
IAG did not disclose the price paid for the planes, but did note that it has negotiated a "substantial" discount from the list price of USD120 million per A320neo and USD140 million per A321neo. IAG said it has a range of financing options and will chose the most appropriate option closer to the delivery time.
The airline added that this order is in addition to the conversion of eight A320neo family options for six A320neos and two A321neos, which IAG agreed back in March.
IAG said: "These modern, more fuel-efficient aircraft will bring both cost efficiencies and environmental benefits to IAG airlines."
Shares in IAG were down 3.6% to 107.72 pence each in London on Thursday morning.
By Sophie Rose; sophierose@alliancenews.com
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