Airbus announced the biggest commercial-plane transaction in its history, securing an order for single-aisle aircraft valued at nearly $50bn (€42.6bn) at the Dubai Air Show, outdoing Boeing’s own $20bn mega-deal, Julie Johnsson, Mary Schlangenstein and Benjamin D Katz report.

Tiger Airways, the Ryan family investment vehicle, is set to begin operations from Changi airport in Singapore in the second half of 2004, providing flights to destinations in South East Asia.