(Bloomberg) -- Airbus SE is poised to sweep a multibillion-dollar aircraft order from Qantas Airways Ltd., in a blow to Boeing Co. and its 737 Max narrow-body jet, according to people briefed on the matter.

The Australian carrier is set to announce its order decision Thursday morning in Sydney to replace the 75 older-generation Boeing 737 jets that serve as Qantas’s domestic workhorses, according to the people, who asked not to be identified as the discussions are confidential. 

The decision is a coup for Airbus as it races to match Boeing’s Max order bonanza by year-end. The European planemaker also landed a commitment from Singapore Airlines Ltd. for its A350 freighter Wednesday and has an opportunity to make headway with Air France-KLM, which is set to announce replacements for its aging Boeing 737s. Shares of Chicago-based Boeing fell 1.5% to $192.60 at 1:59 p.m. in New York and have dropped about 10% this year.

The fleet decision means Qantas and its low-cost Jetstar division are likely to be flying mostly Airbus planes on their domestic and international networks for decades to come. Boeing’s Dreamliner, still favored by Qantas on some popular long-haul routes, is now set to be the U.S. company’s main model at the Australian airline.

A Qantas representative couldn’t be reached for comment outside regular business hours.

The Australian airline is also due to reveal replacements for Boeing 717s at its QantasLink regional arm, with Airbus’s A220 model and the Embraer E2 family in the running.

(Updates with Boeing shares.)

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