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Germany's Deutsche Lufthansa could announce as soon as Wednesday that it will order the passenger version of Boeing Co.'s updated 747 jumbo jet at the expense of Airbus, the Wall Street Journal reported on Tuesday.

Citing unnamed sources, the newspaper reported on its Web site that the company could order 20 planes and take options for 20 more, with each order being worth $5 billion at list prices.

People familiar with the matter told Reuters on Tuesday that no decision had yet been reached and that Lufthansa's supervisory board would make a decision on Wednesday.

«There is definitely no decision. The supervisory board will make a decision first tomorrow,» said one person familiar with the matter. There were various options including both Airbus and Boeing aircraft, and negotiations were continuing, this person said.

A spokeswoman for Lufthansa said the airline had made no decision and declined to comment on a timeline for a deal. U.S.-based Boeing also declined to comment.

Boeing and European planemaker Airbus are keen competitors, with EADS' Airbus lagging Boeing in orders for the first time in five years, according to recent figures.

Lufthansa Chief Executive Wolfgang Mayrhuber has said he wants to modernize the carrier's fleet of 30 390-seat Boeing 747-400 jumbos and that it could opt for the new, larger 747-8 model. The carrier has already ordered 15 555-seat Airbus A380 superjumbos, which it plans to turn into its flagship aircraft.

Lufthansa's supervisory board on Sept. 20 approved the purchase of 30 single-aisle planes from Airbus's A320 family, with options to buy a possible 30 more.

In addition, Lufthansa is buying five of the larger Airbus A330-300 model to help cope with delays to the A380.

Lufthansa, which is Europe's second-biggest airline, is also weighing up the fast-selling Boeing 787 Dreamliner mid-sized aircraft against Airbus' A350 XWB, due to come into service five years later.

Mayrhuber told Reuters on Oct. 19 that there was no pressure to decide between the two mid-sized aircraft, which he has said could replace its 28 247-seat A340-300s. A decision could come next year, he said.

Boeing shares closed Tuesday up 1.3%, or $1.15 higher, at $90.73 on the New York Stock Exchange.

Meanwhile, Continental Airlines said on Tuesday it will convert 12 existing orders for Boeing 737 planes to the longer-range 737-900ER version.

Continental said the conversion doesn't affect its total number of firm orders for the 737, which remains at 60.

The Boeing 737-900ER flies 500 nautical miles longer than the 737-900 version, the company said.

(Reuters)