Air New Zealand to replace Boeings with Airbus A320s - News

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Air New Zealand to replace Boeings with Airbus A320s

By: AFX | 02 Nov 2009 | 05:42 PM ET

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WELLINGTON, Nov 3 (Reuters) - National carrier Air New Zealand will buy 14 new Airbus planes at a cost of around US$1 billion to replace its domestic fleet of Boeings , the airline said on Tuesday. Air New Zealand said it would buy 14 Airbus A320s to replace it current fleet of 15 Boeing 737-300. The A320s would begin arriving in January 2011 and be delivered progressively until 2016 to coincide with the expiry of the 737-300 leases, Air New Zealand said. Shares in Air NZ, which is around 76 percent owned by the government, last traded down a cent or 0.8 percent at NZ$1.27. So far this year the stock has gained around 38 percent compared with a 17 percent rise in the benchmark NZSX-50 index. ($1=NZ$1.40) ((Wellington newsroom tel 64 4471 4234, fax +64 4 4736 212, wellington.newsroom@reuters.com)) Keywords: AIRNZ/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

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