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Yemenia in initial deal to buy 10 A320 for $700 mln

Mon Nov 16, 2009 7:12am EST

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* Yemenia, Airbus sign MoU for 10 A320 Airbus aircraft

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* Deal subject to Yemenia board nod, would be worth $700 mln

(Adds detail, changes dateline)

DUBAI, Nov 16 (Reuters) - Yemen's national airline Yemenia has signed an intial agreement with Airbus (EAD.PA) to buy 10 A320 aircraft worth $700 million, the firms said on Monday.

The deal is subject to approval by the board of Yemenia, they said in a statement, adding the memorandum of understanding stipulates delivery of the first aircraft by 2011.

Yemenia would use the aircraft to expand routes to Africa, India and Europe in additional to regional routes.

In 2007, Yemenia placed an order for 10 next-generation Airbus wide-body aircraft, worth $2 billion at list prices to jump start what it said were ambitious growth plans. (Reporting by John Irish; Writing by Inal Ersan; Editing by Dan Lalor)

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