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$7 billion contract

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Philippine Airlines informed that it had signed a $7 billion contract to buy 54 Airbus jets as part of modernization program to meet higher demands for transporting both passengers and cargo in Asia, the Middle East and Australia. Moreover Philippine Airlines, the country's largest full-service carrier, announced that it planned to buy dozen more planes. Airbus won the $7 billion contract, beating Boeing Co. despite the U.S. support for Manila in a diplomatic dispute with the People’s Republic of China.

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