Venezuela to buy Airbus from UAE

Venezuela's state carrier will buy four used Airbus A340-500 planes for $240 million from the United Arab Emirates, President Hugo Chavez said on Sunday.

The Venezuelan leader announced the deal but gave no more details during a televised meeting with cabinet members.

He also confirmed a previously known deal for Brazilian aircraft maker Embraer to supply up to 20 commercial planes for government-owned carrier Conviasa to increase Caribbean routes.

"Then the long-haul planes are four Airbus 340-500 planes, which are five years old and offered by a state airline in the United Arab Emirates for $60m each," he said, signing approval during his weekly "Hello, President!" programme.

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