Airbus ready to upgrade A320, may announce Wednesday

PARIS (BestGrowthStock) – 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 (BBDb.TO: ) and shore up the European planemaker’s position against rival Boeing (BA.N: ).

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.

Airbus declined to comment.

(Reporting by Tim Hepher)

Airbus ready to upgrade A320, may announce Wednesday