By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > Markets > Stocks > Paris air show takes off with biggest ever plane order
Stocks

Paris air show takes off with biggest ever plane order

News Room
Last updated: 2023/06/19 at 4:32 PM
By News Room
Share
5 Min Read
SHARE
2/2

© Reuters. A model of a Future Combat Air System (SCAF), a European aircraft developed by France, Germany and Spain is displayed during the 54th International Paris Airshow at Le Bourget Airport near Paris, France, June 19, 2023. REUTERS/Benoit Tessier

2/2

By Tim Hepher and Joanna Plucinska

PARIS (Reuters) -Airbus announced a record 500-plane deal with Indian airline IndiGo on day one of the Paris Airshow on Monday, as strong demand for jets and missiles vied for attention with the industry’s supply chain problems.

The multibillion-dollar deal for single-aisle planes – the largest ever by number of aircraft – confirmed a Reuters report earlier this month, and eclipsed Air India’s provisional purchase of 470 Airbus and Boeing (NYSE:) jets earlier this year.

The world’s largest air show, which alternates with Farnborough in Britain, is at Le Bourget for the first time in four years after the 2021 edition fell victim to the pandemic.

French President Emmanuel Macron flew in to the packed aerospace bazaar by helicopter and watched a flying demonstration including Airbus’s latest jet development, the A321XLR, and air power including the French Rafale fighter.

On the civilian side, planemakers arrived with growing demand expectations as airlines rush for capacity to meet demand and help reach industry goals of net zero emissions by 2050.

But they also face a challenge to meet that demand as suppliers struggle with rising costs, parts shortages and a scarcity of skilled labour in the wake of the pandemic.

Industry executives say as many as 2,000 jet orders are up for grabs worldwide in a resurgent commercial jet market, on top of those provisionally announced already, as airlines try to fill a void left by sharp falls in activity in the COVID crisis.

Only a portion of these potential fresh deals will be ready in time for this week’s air show, which could see a mixture of new and repeat announcements, they said.

IndiGo’s deal highlights the growing importance of India, the world’s fastest-growing aviation market, serving the largest population, to planemakers.

“This is just the beginning, there’s more going forward. With the growth of India (and) the growth of the Indian aviation market … this is the right time for us to place this order,” IndiGo Chief Executive Pieter Elbers told a news conference.

In another key market, Airbus said Saudi budget airline flynas had firmed up an order for 30 of its A320neo-family narrowbody aircraft, confirming a Bloomberg report.

DEFENCE

The air show is taking place under the shadow of the conflict in Ukraine, with no Russian presence in the chalets and exhibition halls in contrast to the last event four years ago.

Some Ukrainian officials and aerospace firms were expected to be present at the show.

On the defence side, Belgium said it would apply to join as an observer the potential successor to the Rafale and multinational Eurofighter, the Franco-German-Spanish FCAS fighter project, despite differences between industrial partners over whether to expand the project.

France’s Thales also announced a contract from Indonesia for 13 long-range air surveillance radars.

Looking ahead to the rest of the show, Airbus is expected to confirm that Qantas is exercising options for nine more A220s, as announced by the airline this year.

The planemaker is also close to a potentially large order for narrow-body jets from Mexican low-cost carrier Viva Aerobus, industry sources said on Sunday.

The number of planes being discussed was more than 100, they said, though by Monday some sources said the number in the final deal could settle closer to 60.

The Mexican carrier has long been a fierce battleground between Boeing and Airbus.

Read the full article here

News Room June 19, 2023 June 19, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
US set to ban Chinese technology in submarine cables

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

Donald Trump attacks own supporters over Jeffrey Epstein conspiracies

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

Dollar falls after Trump asks lawmakers if he should fire Jay Powell

Unlock the White House Watch newsletter for freeYour guide to what Trump’s…

Israel strikes Syrian military headquarters in Damascus

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

Morgan Stanley says wealthy clients ‘bought the dip’ amid tariff turmoil

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

- Advertisement -
Ad imageAd image

You Might Also Like

Stocks

Playa Hotels & Resorts (NASDAQ:PLYA) Delivers Strong Q4 Numbers By Stock Story

By News Room
Stocks

ON24 (NYSE:ONTF) Posts Better-Than-Expected Sales In Q4 By Stock Story

By News Room
Stocks

Evolent Health shares leap on Q4 earnings beat and upbeat guidance By Investing.com

By News Room
Stocks

Chuy’s (NASDAQ:CHUY) Reports Q4 In Line With Expectations But Stock Drops

By News Room
Stocks

Red River Bancshares raises dividend to $0.09 per share

By News Room
Stocks

Ecolab appoints Microsoft executive to board

By News Room
Stocks

Semilux secures $50 million equity deal with White Lion Capital

By News Room
Stocks

US government debt trajectory to push long-term yields higher, says PIMCO

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?