FRANKFURT, Germany (AP) -- German airline Lufthansa AG says it plans to buy 102 new aircraft from European planemaker Airbus to improve fuel efficiency and meet future demand.
CEO Christoph Franz said in a statement Thursday that the board had approved purchase of two Airbus A380 superjumbo jets and 30 Airbus A320s. The board also authorized management to complete negotiations for a further 70 Airbus A320 and A321 planes.
Franz said the purchase focused on making the company's fleet more modern and fuel efficient, not on expanding it. The company is trying to cut costs and improve profits.
Lufthansa also said it would buy six Boeing 777-ER plans for its SWISS subsidiary.
Lufthansa said it now has 236 planes on order between now and 2025 with a list price of €22 billion.