Airbus to supply 40 planes to Vietnam

Airbus Group SE won about $6.5 billion of orders from carriers in Vietnam, a nation that's likely to rank among the top 10 fastest-growing aviation markets in the next two decades.

State-owned Vietnam Airlines Corp signed a deal to buy 10 A350 wide-bodied aircraft worth about $3.1 billion in list prices, while affiliate Jetstar Pacific Airlines Aviation Joint Stock Co agreed to purchase 10 A320s for about $980 million, Airbus said in a statement. VietJet Aviation Joint Stock Co, Vietnam's only private airline, signed a $2.39 billion order for 20 more A321 planes, the low-cost carrier said in a statement separately.

The deals were signed on Tuesday in Hanoi in the presence of French President Francois Hollande, who is currently visiting the Southeast Asian country where VietJet estimates air travel has expanded at least 20 percent in the past three years. Vietnam Airlines is revamping its fleet as it adds international routes while also fending off competition from VietJet, which started operations in December 2011.