Airbus said today that it has landed a $16 billion deal with India’s IndiGo for 180 aircraft. The European jet maker says this is the largest single order for aircraft in commercial aviation history. The tentative order includes 30 of Airbus’ original A320 single-aisle jets and 150 of Airb
us’ new engine-option A320s, due out in 2016. This is Airbus’ first order for the A320neo, which Airbus says will save carriers 15 percent on fuel costs. “The A320 Family is the recognized market leader. The A320neo, offering maximum benefit for minimum change, will ensure that this continues to be the case for many years to come,” John Leahy, Airbus’ chief operating officer, said in a statement. IndiGo, a low-cost carrier, ordered 100 A320s from Airbus in 2005.
Wholesalers reduce their inventories
Businesses at the wholesale level trimmed their stockpiles in November for the first time in nearly a year, even though sales rose for a fifth consecutive month. The Commerce Department says wholesale inventories dipped 0.2 percent in November, the first decline since December 2009. Sales rose 1.9 percent after a 2.6 percent surge in October — the largest monthly gain since March. Companies had increased their inventories for 10 straight months before they dipped in November to a level of $425.5 billion. Even with the decline, wholesale stockpiles are 10.1 percent above the lowest point since the recession began.
Goldman Sachs promises disclosure
Goldman Sachs Group Inc. is promising to be more transparent about how it does business following widespread criticism that it put its own interests ahead of its clients. In an internal report released Tuesday, Goldman said it would begin disclosing more information about how it makes money and ensure that its business practices put the interests of its clients first. The 63-page report is the result of an eight-month review of the firm’s practices. It comes after Goldman paid $550 million in July to settle a federal lawsuit that accused the giant securities firm of creating and selling an investment designed to fail.
Jet fuel proposed from wood waste
Washington state Commissioner of Public Lands Peter Goldmark says he will propose legislation to promote making aviation fuel from wood waste. Goldmark told the Pacific West Biomass Conference in Seattle on Tuesday that he wants to start a pilot project to make jet fuel as part of the Department of Natural Resources’ forest biomass program. That initiative is studying manufacturing methods, markets and supply sources to convert forest wood waste to energy sources. DNR says Boeing Co., the Port of Seattle and the state Commerce Department support the proposal. Boeing, Airbus, the U.S. Air Force and several airlines have been studying different alternative fuels made from plants and other sources.
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