Airbus, Boeing, Bombardier Report Over $55 Billion in New Orders at Farnborough
The world’s three largest passenger-jet makers, Airbus, Boeing, and Bombardier, announced billions
of dollars in sales at one of the world’s major air shows this past week but, even with new orders and commitments valued at over $55 billion, the numbers paled in comparison to last year’s, when orders were roughly twice as much.
The decline in sales notwithstanding, Airbus, Boeing, and Bombardier will have a rather full production schedule for the coming decade and airlines now hoping to order new aircraft will have to get in line or hope for a cancellation if they are in a rush.
Airbus reported roughly $17 billion in orders and commitments. This includes a $4.2 billion order from Cathay Pacific for 10 A350-1000 jets and a change in a previous order from 16 A350-900 aircraft to 16 A350-1000 models; a $2.3 billion order from CIT Group for ten A330s; and a $2 billion order for 20 A321 jets from Utair. Other orders included
29 A320neo jets (Avolon, Middle East Airlines, and Arkia Israel Airlines), six A330-200s and three A330 freighters (Synergy Aerospace), and 36 A320 CEO-style aircraft (China Aircraft Leasing).
Boeing reported over $37 billion in new orders. Most of Boeing’s were for the 737 Max and came from aircraft leasing companies. Prior to the show, Boeing announced a $7 billion order from Virgin Australia for 20 737 Max aircraft. At the show, Alafco ordered 20 737 Max aircraft ($1.9 billion); GE Capital Aviation Services ordered 75 Max 8 jets and 25 Next Generation 737-800s with a list price of $7 billion; Air Lease ordered 60 737 Max 8 and 15 737 Max 9 jets with rights for an additional 25 for a total value of $7 billion; and United placed a $14.7 billion order for 100 737 Max 9 aircraft and 50 737-900ERs.
Bombardier announced one sale: Air Baltic, the Latvian flag carrier, ordered up to 20 CSeries jets to replace Boeing 737 Classic jetliners starting in 2015. The deal is worth $764 million and could grow to $1.57 billion if Air Baltic exercises options for additional aircraft.