Airbus revamps A330 jet in long-haul battle with Boeing

Airbus announced a revamp of its twin-aisle A330 passenger jet on Monday, sharpening a contest with Boeing for up to $250 billion of orders at the core of the market as the start of the Farnborough Airshow fueled a debate about new technology. The European planemaker's decision to add new, more fuel-efficient Rolls-Royce (FF.L) engines to its best-selling long-haul jet comes as it tries to preserve market share against Boeing's (BA.N) all-new 787 Dreamliner and amid disappointing sales of its own new A350-800 model. The challenge facing new aviation technology was underscored on the eve of the Farnborough show, the world's biggest aerospace industry gathering of the year, when Lockheed-Martin's (LMT.N) Joint Strike Fighter was pulled out of the opening day. The warplane is grounded following an engine fire last month although Lockheed hopes it will still make its international debut at the event this week. Two initial partners in the program - Canada and Denmark - are weighing fresh orders. The absence of the F-35 left Airbus (AIR.PA) to grab the limelight on day one of the July 14-20 show. The European planemaker's chief executive, Fabrice Bregier, predicted up to 100 orders for the A330neo during the event. The A330 has enjoyed a resurgence of sales helped by delays in deliveries of Boeing’s technically ambitious carbon-fiber 787 jet, but it is in need of a revamp to keep selling, according to Reuters.