Paris Air Show: Day 2 Happenings

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Airbus

Airbus continues to dominate the show bagging orders on Tuesday. The new Airbus A320neo aircraft unveiled the largest deal of at least 100 orders from airlines in Europe, Asia, and the U.S. as well as from leasing companies. The order book shows an order of 263, which is valued at $26.1 billion. Company executives expect the order to cross above 600 before the closure of the exhibition.

JetBlue Airways Corp. ordered for 40 A320neo aircrafts, while there was a firm commitment from Taiwan-based TransAsia Airways for six re-engined versions of the stretched A321. Garuda is also taking options for another 25 aircraft.

The order inflow at Airbus is expected to continue.

Airbus has scheduled two announcements for Wednesday and possibly one Thursday.

Boeing

Boeing picked up an order for 15 737-800 aircraft worth $1.2 billion from low-fare carrier Norwegian Air Shuttle ASA, while MIAT Mongolian Airlines ordered two 737-800s and one 767-300ER in a $245 million deal. Malaysian Airline System Bhd. exercised an option to buy 10 737-800s for $800 million at current list prices.

Russias OAO Aeroflot will receive eight long-haul 777-300ERs, an order previously quoted as mysterious.

The U.S. and Western Europe airlines are replacing older planes, while Asia, Middle East, and Latin America are growth markets said Jeff Knittel, president of transportation finance at CIT Group Inc.

Bombardier

Canadss Bombardier Inc. made a breakthrough in Asia.

The Korean Air Lines Co. signed a letter of intent for 10 larger CSeries aircraft, with an option to purchase 10 more and purchase rights on 10 more CS300 planes.

Bombardier, Commercial Aircraft Corp. of China Ltd. (Comac), and Brazil’s Embraer SA are all competing for a slice of the largest commercial-aircraft market.

Comac C919, slated to enter in 2016, is targeting the domestic airways that includes Ryanair and an unnamed US airline.

GE

General Electric Co.is expected to win orders worth more than $10 billion at the show from sales of engines, avionics and technical and financial services. It has already sold 3,000 of the planes, higher than previous expectations.

GE Capital Aviation Services (Gecas), the world’s largest aircraft lessor, committed for two of Boeings 747-8 freighter and eight 777-300ERs. Gecas also plans to pursue financing opportunities for planes such as the Airbus A330, Boeing 787 and revamped 747.

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Source:Wall Street Journal

 

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