(Reuters) – Airbus and Boeing compete for over $ 10 billion in bulk aircraft orders.
An Airbus A330neo will be displayed on 26 November 201
The contests include a fight for the business of the Philippine low-cost airline Cebu Air as Airbus is looking at the competition from the Boeing 787 Dreamliner a new foothold for its slow-selling A330neo aircraft.
The budget airline tends to end its exclusive relationship with Airbus by selecting the Boeing 787 for delivery of up to 16 jets in the years 2020 and 2021. the sources said.
Neither party agreed to comment on confidential aircraft negotiations.
Airbus is urgently looking for at least two new buyers for the updated A330neo model, while the aircraft with 250 to 300 seats has problems and delays in production.
Cebu Air has eight older versions of the A330 widebody and a fleet of smaller A320s.
Airbus is close to signing a sales contract for A330neo jets to Virgin Atlantic, Reuters reported last week.
Asian airlines are trying to renew their long-haul fleets as passenger demand remains robust despite a decline in freight traffic below global trade tensions.
According to industry sources, Boeing is expected to receive an order for the upcoming long-range jet 777X from Korean Air.
The South Korean flag bearer declined to comment.
Korean Air Chief Executive Walter Cho said last week that a decision on the future of the carrier's large-capacity fleet is "imminent", but declined to comment.
In the meantime, Airbus has assigned a senior air finance officer from a unit of General Electric (GE) to oversee the reorganization of sales financing.
Paul Meijers, until recently president of PK Air Finance, a debt financing division of GE's aviation leasing division GECAS, will be responsible for an expanded operation that brings together the key areas of asset management and leasing market operations.
Airbus declined to comment. Meijers, who had previously worked for the European aircraft manufacturer, could not be reached for comment.
Reporting by Tim Hepher, Neil Jerome Morales, Heekyong Yang; Editing by Mark Potter