Farnborough International Airshow Points to Aviation Industry Recovery
Rivals Boeing and Airbus pulled out all the stops to attract would-be customers. It was reported that Airbus had secured orders for 133 passenger jets valued at around $13 billion, while Boeing netted 103 orders to the approximate value of $10 billion. Smaller aircraft manufacturers, such as Bombardier and Embraer also reaped handsome benefits from exhibiting at the Farnborough International Airshow.
Reportedly deals sealed by Russian companies reached around $10 billion, with the largest deal being between Russian aircraft manufacturer Irkut Corporation and Crecom Burj Resources, a Malaysian transportation holding company, for the supply of fifty new MS-21 passenger airliners, with delivery starting in 2016.
Not to be forgotten is the boost that all these orders will give to related aviation supply and component industries. While some deals were signed and sealed, others may at this stage only be tentative commitments, nevertheless the Farnborough International Airshow turned out to be a lot more successful than anticipated, and investors may do well to note who the main wheeler-dealers were if they plan on investing in the aviation sector of the market.