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French PM oversees major Airbus deal signed in Dubai

AFP  |  Dubai 

French Edouard Philippe today hailed the signing in of a USD 16 billion purchase by Airlines of the superjumbo commercial

"This is obviously excellent for the French and for the European industry as a whole, as it allows to consider continuing production of the A380," the told reporters on the sidelines of the World Government Summit.

The deal was signed by Sheikh Ahmed bin Saeed Al Maktoum, the and of Emirates, and Mikhail Houari, of Middle East.

In December, agreed to buy 20 of the double- decker with an optional 16 more, just days after the European manufacturer said it would have to halt production if no new orders were received.

The economics of the 853-seat, four-engine have proved daunting, with airlines having to operate every flight at full capacity in order to make a profit.

The Emirates order was in question after the November Airshow, when the UAE inked a deal with competitor to buy for more than $15 billion.

Today's closing of the deal represents a lifeline for Airbus.

A major transcontinental air routes transit hub, is one of several Gulf-based airports to have experienced prodigious growth in recent years.

was the world's busiest for international passengers in 2017 for the fourth year running, with 88.2 million travellers.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, February 11 2018. 21:30 IST