Summary
- More than $100 billion worth of deals were signed by Day 4 at Farnborough International Airshow this year. These included over 250 aircraft and 800 engine orders.
- Commitments came from airlines like Korean Air, Qatar Airways, and Japan Airlines, among others.
- Farnborough International Airshow has facilitated over $500 billion in deals in the past decade, showcasing the UK’s leadership in aerospace.
Major global aerospace trade exhibitions serve as the perfect platform for plane makers and airlines to announce and finalize new deals. And this year’s Farnborough International Airshow has also seen several important deals worth more than £80 billion as of day 4.
More than $100 billion worth of deals by Day 4
This year’s Farnborough International Airshow has been quite successful in terms of the deals signed among various aerospace companies. According to ADS Group – the trade association for the UK’s aerospace, defence, security and space sectors – there were deals signed worth £81.5 billion ($104.84 billion) by day 4 of the airshow.
Photo: Korean Air
The deals included more than 250 aircraft and over 800 engine orders that were worth $8.23 billion and $1.54 billion for the UK alone, respectively. Overall, the UK stands to gain over $16 billion from these deals so far. Aimie Stone, Chief Economist at ADS, commented,
“With record industry attendance at the Farnborough International Airshow, the heightened attention towards the world’s aerospace and aviation ecosystem is largely behind this mammoth show of commitment to our sector. Adding to this, the firm commitment to 260 new aircraft highlights industry’s confidence, resilience and buoyancy.
“With demand for aircraft still outpacing the amount we are able to fulfil, it’s clear that the new government’s need to address the challenges that are currently holding back our sector’s ability to deliver its full potential and impact to our economy.”
Major deals and MoUs
On the fourth day of the airshow, Saudi Arabia-based low-cost carrier flynas signed an MoU for 75 Airbus A320neo family aircraft and 15 A330-900s. According to Airbus, the airline will operate the A330s in a two-class configuration, accommodating up to 400 passengers.
Photo: Wirestock Creators | Shutterstock
On the same day, ATR also announced that a Japanese startup airline, JCAS Airways, and Singapore-based aircraft lessor Aviation PLC signed a letter of intent (LoI) for an ATR 72-600 aircraft. On Day 3, Ait Tahiti ordered four ATR 72-600 aircraft scheduled to be delivered between 2025 and 2028.
On Day 2, Qatar Airways increased the number of orders for the 777-9, adding 20 more aircraft to its total order backlog of 40 777X aircraft. The order also came with commitments for 40 more General Electric (GE) Aerospace GE9X engines and spares and included a long-term servicing agreement with GE Aerospace.
Photo: Falcons Spotters | Shutterstock
The same day, Japan Airlines officially announced an order for 20 A350-900 and 11 A321neo aircraft at the airshow. A day before, the carrier had signed an order for up to 20 more Dreamliners, split between ten firm orders and ten options. This was part of its larger plans to renew its fleet.
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Japan Airlines Signs Order For 20 Airbus A350-900 and 11 A321neo At Farnborough
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On Day 1, Korean Air became the latest Boeing 777X customer, ordering 20 of the type. Additionally, it purchased 30 787-10 aircraft, split between 20 firm orders and ten options.
Over $500 billion of deals in a decade
This isn’t the first time that the Farnborough International Airshow has seen deals of such proportions. Over the last decade, the event has facilitated more than $500 billion in deals. The Chief Executive Officer at Farnborough Intl Ltd told Simple Flying earlier this month that the show is a good demonstration of the leadership of the UK and that the country benefits greatly from the deals signed at the show.
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