Dubai Airshow clinches new orders worth 30 billion

Date

11/10/2015 10:21:29 AM

(MENAFN- Khaleej Times)

The Dubai Air Show recorded new deals and aircraft orders totalling around $30 billion on the second day ending a sales drought at the biennial event that took off to a subdued start on Sunday.

The first major sale to trickle in on Monday was the $8 billion order for 75 Boeing 737 Max placed by India's Jet Airways - the biggest order for Boeing by an Indian carrier in years.

It was followed by a $16 billion service contract signed by Emirates airline with GE's aviation unit for engines powering the airline's 777x fleet.

Other air show deals include a $1.27 billion deal announced by the UAE Air Force for upgraded Saab surveillance systems aboard new Bombardier aircraft that the country has acquired. Saab said the deal is for a new version of its Erieye radar system for the Bombardier Global 6000 aircraft.

Lockheed Martin announced it had been awarded a $262.8 million contract from the US Air Force to service Saudi Arabia's F-15 sniper targeting system and radars that allow for day and night low-level navigation.

Canada's Bombardier confirmed at the show that it would be the launch customer of the CS300 with delivery of the first aircraft to start in the second half of 2016.

On Monday Airbus said International Airlines Group had firmed up orders for 19 additional wide-body and single aisle aircraft - 2 A330-200s 2 A330-300s and 15 A320neos while Lebanon confirmed the acquisition of six A-29 Super Tucano turboprop aircraft.

In a statement coinciding with the air show Airbus said the agreement with IAG and its airlines took their cumulative Airbus orders to a total of nearly 470 aircraft. The two A330-200s will be assigned to Iberia and Aer Lingus will operate the two A330-300s. The 15 A320neos will be assigned within the group.

On Sunday Etihad placed an order for two Boeing 777 freighters valued at $637 million. Etihad also signed a Memorandum of Understanding with Abu Dhabi investment and development firm Mubadala worth a potential $1 billion. The 10-year agreement covers a range of new contracts and would see Etihad appoint Mubadala's SR Technics as its preferred service provider

In contrast the previous edition of the show in 2013 witnessed brisk deals totalling $200 billion including big-ticket purchases by Emirates Etihad and Qatar Airways.

Issac John Associate Business Editor of Khaleej Times is a well-connected Indian journalist and an economic and financial commentator. He has been in the UAE's mainstream journalism for 35 years including 23 years with Khaleej Times. A post-graduate in English and graduate in economics he has won over two dozen awards. Acclaimed for his authentic and insightful analysis of global and regional businesses and economic trends he is respected for his astute understanding of the local business scene.

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