Cash-rich carrier, Air France-KLM has announced new aircraft orders worth more than $7 billion from mainly Airbus and Boeing, in a move designed to replace its aging fuel-thirsty fleet. 

New orders include two Airbus A380 superjumbo jets in addition to the 10 that it already has on order.

The airline has also placed an order for 30 Airbus A320s, and the complete replacement of its fleet of 13 Boeing 747-400 wide-bodied jets with Boeing 777 planes to be used on medium to long-haul routes. In fact it is ordering 18 Boeing wide-body 777s. 

Air France officials told reporters that the new order for two more A380s was part of a compensation agreement with Airbus to cover the initial delivery delays,

The orders are a bid to reduce fleet operation costs through greater rationalisation and efficiencies.
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