Sep.19 - Deutsche Lufthansa orders 59 new aircraft to drive down fuel costs on long routes. As Sonia Legg reports, the German airline's decision to modernise will benefit both Airbus and Boeing.
$19 billion dollars is today's daily digit - the amount Lufthansa is spending on new jets. It's ordered 59 wide-body jets from Boeing and Airbus to replace its ageing fleet. The airline is hoping a more fuel efficient fleet will mean it's more competitive. It's hoping to win customers from fast growing Middle East and low-cost rivals, particularly on lucrative routes between Europe and Asia. The deal is thought to include $14-$15 billion in firm orders which are expected to benefit both Airbus and Boeing. The German airline has been struggling in recent years - and is in the middle of the most aggressive corporate restructuring in two decades - axing 3,500 jobs. The job cuts are expected to help pay for the new planes, which Lufthansa will take delivery of in 2016 and in 2020.