Emerging economies are the engine of growth; Leasing companies are back
Signalling a clear upturn in the aviation industry, Airbus announced commitments at the 2010 Farnborough Air Show for 255 aircraft, valued at around US$28 billion. The commitments so far include firm orders for 133 aircraft worth more than $13 billion, plus memorandum of understanding (MoU) agreements for a further 122 aircraft totalling around $15 billion.
The firm orders at the show came from GECAS for 60 A320s worth around $4.9 billion; from Air Lease Corporation for 51 A320 Family aircraft worth $4.4 billion; from Aeroflot for 11 A330-300s worth $2.3 billion; from Garuda Indonesia for six A330-200s worth $1.2 billion; and from Germania for five A319s worth $372 million.
The MoU commitments included: 40 A320s plus 10 A321s together worth $4.2 billion from LAN; 10 A330-200s worth $1.9 billion plus 15 A350 XWBs worth $3.8 billion from Hong Kong Airlines; 40 A320s worth $3.3 billion from Virgin America; and seven A330-300s worth $1.5 billion from Thai Airways International.
John Leahy, Chief Operating Officer, Customers commented: “Before the Farnborough Air Show we already had 131 orders, and we predicted that by the end of the week we’d double that. Indeed, the commitments which we have already received here, bring our total firm orders this year already to over 260 aircraft.” He adds: “This clearly proves that the market is back, and that our new end of year target for over 400 orders is within reach.”
Airbus’ success is founded on innovative design, which has given it the world’s most modern aircraft family in every category from 100 to 525 seats
• See highlights from the wrap-up press conference in the Airbus video gallery.