British Airways is to spend at least $5.5bn (£3bn) over the next three years as part of a major renewal of its long-haul fleet. The total investment is likely to be far higher.
The company is looking to review the entire fleet of its 114 long haul aircraft, pointing out that many of its planes were 25-years old.
This is the first time that the company has reviewed its fleet since 1998.
If it replaces all its planes at prices in the middle of manufacturers' price lists the cost would be more than $25bn.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/10/17/bcnba.xml
