Why Airbus (EADSY) Stock Is Moving Up Today

NEW YORK (TheStreet) -- Shares of Airbus Group (EADSY) are up 1.20% to $16.81 after it was reported that the company is set to upgrade its A330 with engines provided exclusively by Rolls-Royce Holding Plc (RYCEY), setting the stage for a bitter new phase in a battle for wide-body jet orders with Boeing's (BA) 787 Dreamliner, sources told Reuters

The move speeds up a growing interdependence between the European firms on large jets, with General Electric (GE) - the main alternative A330 engine supplier - no longer in the running for the $2 billion "A330neo" revamp, sources said.

Shares Rolls-Royce are up 2.05% to $91.54.

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