Singapore Airlines buys 31 aircraft

Singapore Airlines Ltd, Asia’s most profitable carrier, agreed to buy 31 Boeing 777 aircraft worth more than $7 billion (€5.78bn) as it tries to win long-haul passengers from Emirates and Cathay Pacific.

The airline will take delivery of 18 of the 777-300ER model between 2006 and 2010.

The airline decided not to buy Boeing’s new 7E7 “Dreamliner’ because it “did not meet” its “financial criteria”, Singapore Airlines said.