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Home»Business»$51 billion deals on day one; A321XLR on show
Business

$51 billion deals on day one; A321XLR on show

u1news-staffBy u1news-staffJuly 23, 2024No Comments4 Mins Read
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The Airbus A321-XLR will take part in an aviation display on the opening day of Farnborough International Airshow 2024, which takes place in southwest London on 22 July 2024.

Justin Tallis | AFP | Getty Images

FARNBOROUGH, England – Organizers of the Farnborough Airshow, one of aviation’s biggest events, said first-day sales reached 39.3 billion pounds ($50.8 billion) at the show, where Airbus unveiled a new single-aisle long-range jet.

ADS Group, made up of Farnborough organisers and industry body ADS, said the headline figure represented deals concluded at list price and included 163 firm aircraft orders worth £4.6 billion to the UK.

Boeing in crisisThe company was seen to be keeping a low profile at the event, continuing its recent trend of eschewing jetliner displays, but it still occupied a large pavilion and won several early orders. Korean Air signs contract for 40 wide-body aircraft The company has placed a firm order for 10 787-9 Dreamliners from the US aircraft manufacturer, with an option for an additional 10 aircraft.

Vietnamese low-cost carrier Vietjet on Monday ordered 20 Airbus A330neo aircraft.

Meanwhile, Airbus captured the attention of thousands of trade delegates in the early afternoon with the unveiling of its soon-to-be-launched A321XLR, which is set to be the world’s longest-range single-aisle aircraft.

jet European certification obtained The service, which begins operation on Friday, is eagerly awaited by many airlines, including Ireland’s Aer Lingus and Spain’s Iberia, as it will allow them to fly long-haul routes previously only serviced by wide-body jets at lower fuel costs.

The first delivery of the A321XLR is scheduled for the third quarter, nearly a year later than originally planned, highlighting one of the biggest issues continuing to plague the aviation industry: continued delivery delays and supply chain holdups.

The Farnborough Airshow, which alternates between the two annual events and the Paris Air Show, has in recent years reduced its aircraft displays and interactive exhibits, focusing more on deal-making and trade shows, and in 2019 announced it would cancel its weekend-long event open to the public.

Many startups working in the electrical industry eVTOL (electric vertical take-off and landing), Hydrogen-fueled aircraft Next-generation projects were the focus of attention at the event: Boom Supersonic, which is working to revive supersonic air travel, is scheduled to make an announcement on Tuesday.

China COMAC display at the Farnborough Airshow, June 22, 2024.

China’s COMAC, seen as a potential future competitor to the likes of Airbus and Boeing, had a large but understated display of small models of its C919 narrow-body, C929 wide-body and ARJ21 regional jets in a variety of cabin configurations.

The company said at the event that it was in discussions but declined to comment on which airlines or markets it was targeting with its aircraft, which are currently certified only in China. There were representatives from several countries at the company’s booth, but it was a more subdued event than the Singapore Airshow earlier this year. The first international exhibition The company led the development of the C919 and announced that it had received an order for the aircraft from China’s Tibet Airlines.

Military technology continues to be one of the largest components at Farnborough base, with aircraft including US Air Force F-15E Strike Eagles, Boeing F-15QAs and British Army Chinooks roaring in the skies throughout the afternoon.

Farnborough managed to attract new British Prime Minister Keir Starmer to deliver the opening speech, with his comments on the importance of a joint British, Japanese and Italian fighter jet project drawing attention.

A new concept model of the next-generation fighter jet from the Global Combat Air Programme (GCAP) partners (UK, Italy and Japan) will be on display in the BAE Systems Hall at the Farnborough International Airshow 2024, taking place at the Farnborough International Exhibition and Conference Centre in Farnborough, England on 22 July 2024.

John Keble | Getty Images News | Getty Images

Starmer’s new Labour government has announced a review of the Global Combat Air programme, established under former British Chancellor Rishi Sunak, in 2023, sparking speculation the UK could abandon the programme.

Deal-making and discussions are expected to continue for the remainder of the five-day event, which ends on Friday.

A321XLR billion Breaking News: Business Breaking News: Market Business news day Deals market Show Transportation facilities
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