Planemakers plot course through trade, Brexit worries to air show deals

BRITAIN-AIRSHOW

BRITAIN-AIRSHOW

Airbus announced a mix of orders - some firm, some promised - that would be worth tens of billions of dollars at list prices.

Mrs May will also announce £343 million in additional research and development funding, including investment in new "cleaner and greener" electric aircraft technology.

After Prime Minister Theresa May unveiled more conciliatory proposals last week for Britain to retain strong trading ties with the European Union after Brexit, Enders however said that the government was now "going in the right direction".

"People feel great when you launch, but shareholders don't feel great until you're successful", he said.

However, bankers said they would be watching closely to see how numerous hundreds of orders anticipated this week were new and how many involved adjusting earlier business or switching models, something not always easy to spot at first.

"This is a strong statement of intent that will help build confidence and encourage investment as we look to make sure the United Kingdom benefits from sustained global growth in this high value manufacturing industry", he said.

He announced 2 billion pounds ($2.7 billion) of funding for the project to 2025 and said he was looking for other countries to join, with a senior Royal Air Force official saying Sweden was the most likely partner.

Goshawk Aviation Limited announced an order for 20 Boeing 737 MAX aircraft.

The British broadcaster took a broad look at the show's opening day.

More news: UK PM defeats rebels over plans to remain in EU customs union
More news: LeBron James courtside for Los Angeles Lakers' summer league game
More news: U.S. Homeland Security Chief: Russia Sowing Divisions Among Americans

Boeing (BA) and Qatar Airways finalized an order for five 777 Freighters.

DHL said that while in the past it's chiefly been leasing aircraft, purchasing these planes will lower its costs.

Airbus and Boeing are undergoing an unprecedented order boom for single-aisle aircraft driven by fuel-saving planes and growth in air travel, especially in Asia.

Sichuan Airlines is interested in 10 A350-900s, an order worth $3.2 billion.

Organisers also warned that aircraft could stop flying if May fails to clinch an adequate Brexit deal with Brussels.

Dominating Boeing's upbeat outlook was a five percent increase in the forecast for single-aisle aircraft, such as the Boeing 737 and Airbus A320 families, underpinned by an unchanged prediction for average global traffic growth of 4.7 percent.

Airbus is seeking to jump-start the order book for its newly acquired C Series small jetliner, now renamed the A220, which it sells in a joint venture with Canada's Bombardier Aerospace.

Boeing's Tinseth said Airbus sought to show it was winning a sizable share of the aircraft market. "It is also US manufacturing jobs and it is creating economic growth in the USA", he said.

Speaking after the deal for wide-body A350s with StarLux, Airbus Chief Commercial Officer Eric Schulz said he was confident the market for such planes would pick up.

Recommended News

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.