Boeing swells jet orders at air show
By Jane Wardell |
July 20, 2010, Tuesday
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Print Edition
Print Edition
BOEING Co kicked off the Farnborough International Airshow in England yesterday with an order for 30 777-300ER jetliners from Emirates airline - and predicted significant new plane orders for itself and European rival Airbus in a rebounding market.
Boeing Commercial Airplanes President Jim Abaugh said the aerospace market "has come back faster than we expected" and that Boeing has twice upped its internal forecasts for orders at the biennial show.
"We are going to have a significant amount of orders over the next few days," Abaugh said as he updated analysts and other players on Boeing's commercial plane program. "This is going to be a good air show for us and I think it's going to be a good air show for Airbus as well."
Airbus chief salesman John Leahy appeared to confirm the cautious optimism when he said on Saturday that he had bet with EADS head Louis Gallois "that we'll more than double" the 131 gross orders that Airbus has made to the end of June.
The International Air Transport Association has forecast that global industry profits will reach US$2.5 billion this year, an upturn from the huge US$9.4 billion loss in 2009.
Still, concerns remain about the slow global recovery and sharp cuts to national defense budgets.
Analysts expect Asia and North America to lead the recovery, with Europe lagging behind. Strikes at some airlines, the debt crisis and the volcanic ash cloud that caused major disruptions this spring are all hurting Europe's recovery.
The first buyer yesterday was Dubai-based Emirates, which ordered 30 of Boeing's 777-300ER planes - worth US$9.1 billion in list prices. That adds to the 71 models of the same aircraft previously bought by Emirates.
ATR, an Italian-French aircraft manufacturer based in Toulouse and owned by EADS parent Airbus and Finmeccanica, may announce orders for turboprop planes.
Boeing made an early bid to keep the limelight on Sunday with the international debut of its fuel-efficient 787. But it acknowledge that the first delivery of the aircraft - already more than two years overdue - could slip into 2011.
Boeing Commercial Airplanes President Jim Abaugh said the aerospace market "has come back faster than we expected" and that Boeing has twice upped its internal forecasts for orders at the biennial show.
"We are going to have a significant amount of orders over the next few days," Abaugh said as he updated analysts and other players on Boeing's commercial plane program. "This is going to be a good air show for us and I think it's going to be a good air show for Airbus as well."
Airbus chief salesman John Leahy appeared to confirm the cautious optimism when he said on Saturday that he had bet with EADS head Louis Gallois "that we'll more than double" the 131 gross orders that Airbus has made to the end of June.
The International Air Transport Association has forecast that global industry profits will reach US$2.5 billion this year, an upturn from the huge US$9.4 billion loss in 2009.
Still, concerns remain about the slow global recovery and sharp cuts to national defense budgets.
Analysts expect Asia and North America to lead the recovery, with Europe lagging behind. Strikes at some airlines, the debt crisis and the volcanic ash cloud that caused major disruptions this spring are all hurting Europe's recovery.
The first buyer yesterday was Dubai-based Emirates, which ordered 30 of Boeing's 777-300ER planes - worth US$9.1 billion in list prices. That adds to the 71 models of the same aircraft previously bought by Emirates.
ATR, an Italian-French aircraft manufacturer based in Toulouse and owned by EADS parent Airbus and Finmeccanica, may announce orders for turboprop planes.
Boeing made an early bid to keep the limelight on Sunday with the international debut of its fuel-efficient 787. But it acknowledge that the first delivery of the aircraft - already more than two years overdue - could slip into 2011.
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