Dubai Airshow: Day of Record $90B Deals Forged

18 November, 2017, 02:05 | Author: Kim Reid
  • Airbus and Boeing sign deals worth $75bn at Dubai air show

As the doors close on another record-breaking Dubai Airshow, exhibitors are rushing to close deals and re-book for the next edition of the biennial event, in 2019.

"Our variety of conferences - the Space Pavilion and Conference, the UAV Summit, the Cargo Zone conference and Pavilion, Airport Solutions Dubai Conference and Pavilion, and the Gulf Aviation Training Event - underline our commitment to making the Airshow a centre of global thought leadership".

The sheer size of the deal has caught many in the aviation industry by surprise.

Strata, a subsidiary of Abu Dhabi's government-controlled, finalized a joint venture contract with Belgian chemicals producer Solvay to manufacture material for Boeing in a new 8,500-square-meter facility in Al Ain in the southwest of the UAE. "We aim to help generate the creative knowledge-sharing environment the industry needs in order to thrive".

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Leahy, a smooth-talking New Yorker, became a famous thorn in the side of Boeing and other Airbus rivals during his more than 20 years in the job.

Meanwhile US-headquartered Parker Aerospace's spokesperson Elizabeth Butterfield said their show had focussed on consolidating existing relationships across the region.

"This airplane order will provide Ethiopian's Cargo & Logistics business with enhanced cargo capacity and better operating economics as we continue to build one of the largest cargo terminals in the world", said Tewolde GebreMariam, Group CEO of Ethiopian Airlines.

The Airshow was marked by game-changing deals from start to finish.

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The first Airbus deal of the day was for the supply of 430 medium-range A320 family of aircraft to USA investment firm Indigo Partners.

Wednesday's flydubai-Boeing deal is the third aircraft order placed by the Dubai-based airline with Boeing in its eight-year history and follows orders placed in 2008 and 2013.

While European aircraft maker Airbus secured on Wednesday the biggest-ever single order in its history for 430 A320neos valued at $49.5 billion - besides firming up orders for 90 aircraft of the same family - its trans-Atlantic rival Boeing inked a landmark $27 billion deal with Dubai's low-priced carrier flydubai for 225 aircraft in its 737 Max family in what is billed as the largest-ever single-aisle jet order - by number of aeroplanes and total value - from a Middle East carrier.

On Wednesday morning, Bloomberg reported that Bill Franke of private equity firm Indigo Partners signed the preliminary order with Airbus to buy 430 planes comprising of 273 A320neos and 157 A321neos. The fund owns four ultra-low cost airlines, amongst which the new fleet will be shared as follows: Wizz Air (Hungary) 72 A320neo, 74 A321neo; Frontier Airlines (USA) 100 A320neo, 34 A321neo; JetSMART (Chile) 56 A320neo, 14 A321neo, and Volaris (Mexico) 46 A320neo, 34 A321neo.

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