Airbus unveils its 'superjumbo' - the A380
Toulouse, France: At a lavish ceremony the giant Airbus A380, a double-decked behemoth, was unveiled. The aircraft promises to revolutionize long haul flying. European leaders gathered for the first official look at the world's largest passenger plane.

Airbus is celebrating its newfound status as the world's leading jet maker on the "superjumbo" that has an 80-metre wingspan, a tail as tall as a seven-story building and which cost USD13 billion to develop.

French President Jacques Chirac, as well as the leaders of Britain, Germany and Spain - the Airbus' other three government backers - and CEOs from the 14 airlines and freight companies that have so far ordered the 149 A380 aircraft, attended the elaborate unveiling at company headquarters in Toulouse, southern France.

In a three-class cabin layout, the A380 will seat 33 per cent more passengers than Boeing's veteran 747 and offers 49 per cent more floor space - leaving additional room for features such as on-board shops, bars, casinos or even nurseries.

Airbus has already taken 149 orders for the USD280 million planes, "which for a plane of this size that has not yet flown is an extraordinary commercial performance," Airbus CEO Noel Forgeard said on RTL radio.
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Crude prices go past $49 again
New York: Crude oil prices jumped past $49 per barrel in Asian trade, largely on heating fuel supply concerns in the United States. New York's main oil contract, light sweet crude for delivery in February, was at $49.04 per barrel - the highest since the second half of October. The price earlier hit $49.25.

The possibility of an output reduction after the 11-member Organisation of Petroleum Exporting Countries (OPEC) cartel meets on January 30 has also generated market concern.
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