Airbus ready to upgrade A320, may say on Weds.

By Reuters
Posted Nov. 30, 2010 at 2:04 p.m.

Airbus has virtually finalized a decision to upgrade its best-selling A320 passenger jet with new engines and the $1-2 billion project could be announced as early as Wednesday, two sources familiar with the matter said.

The project is designed to fend off competition from new market entrants like Canada’s Bombardier and shore up the European planemaker’s position against rival Boeing.

Barring a surprise reversal at the last minute, the project is set to be adopted by Wednesday or within days, the sources said, asking not to be named.

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