Airbus SAS to invest in new jet

Airbus SAS, the world’s biggest planemaker, will win approval from its parent to invest $3.3 billion in developing a 250-seater jetliner to compete with a new model from Boeing Co, said people familiar with the matter.

The board of European Aeronautic, Defence & Space Co, Airbus’s majority owner, will meet this month to decide on the new A350 plane.