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Efficiency, efficiency; Airbus to upgrade its A330 with new engines

Britain's Prime Minister David Cameron, background, sits in the co-pilots seat, in the cockpit as he is shown around an Airbus A350, during a visit to the 2014 Farnborough Airshow in Hampshire, England, Monday July 14, 2014. (AP Photo/Andrew Matthews, Pool)

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Britain's Prime Minister David Cameron, background, sits in the co-pilots seat, in the cockpit as he is shown around an Airbus A350, during a visit to the 2014 Farnborough Airshow in Hampshire, England, Monday July 14, 2014. (AP Photo/Andrew Matthews, Pool)

FARNBOROUGH, England - Airbus has launched updated versions of its A330 wide body aircraft in a bit to improve fuel efficiency, increase range and help the aircraft compete against Boeing's 787 Dreamliner.

Airbus told reporters Monday the new designs for the A330-800neo and the A330-900neo will reduce fuel consumption by 14 per cent per seat and boost the model's range by 400 nautical miles.

Air Lease Corp. of Los Angeles on Monday agreed to buy 25 of the new A330-900s as well as 60 A320neos. No financial details were immediately disclosed.

The launch comes as Airbus struggles to find buyers for the larger A350 model.

Emirates recently cancelled an order for the A350, and opted for Boeing aircraft of a similar size.

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