Theresa May Opens Farnborough Airshow

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Theresa May Opens Farnborough Airshow

European jetmaker Airbus and US rival Boeing have been enjoying an nearly decadelong boom thanks to rising emerging markets growth and a need among Western airlines to upgrade their fleets, and order books are bulging.

She said: "We can all feel incredibly proud of our position as a leading aerospace nation".

After Prime Minister Theresa May unveiled more conciliatory proposals last week for Britain to retain strong trading ties with the European Union after Brexit, Enders however said that the government was now "going in the right direction".

Speaking at the Farnborough Airshow in England on Monday, Boeing CEO Dennis Muilenburg said such trade restrictions could cause real problems for his industry.

The company's commercial marketing chief, Randy Tinseth, told a press conference at Farnborough that he expected China to overtake the United States as the world's largest domestic air travel market within 10-15 years.

As the Prime Minister opened Farnborough International Airshow in Hampshire, she stressed the importance of a "business friendly customs model".

Business was dominated more than ever by the latest version of the workhorse A320 and Boeing's rival 737 narrow-body jet, which together have generated more than US$1.2 trillion in sales. The U.S. planemaker is mulling a two-jet family with 220 to 270 seats designed for 5,000-mile routes, available by 2025.

The deal is among the largest reported so far at the Farnborough Airshow, which has been marked by brisk activity but a significant number of repeat announcements.

Airbus Gets Off To Flyer With $27bn Farnborough Orders
After US$55b dead heat, Airbus and Boeing chase more deals

Qatar Airways has finalized an order to buy five 777 freighters from USA planemaker Boeing (BA.N), the two companies said on Monday.

DHL said that while in the past it's chiefly been leasing aircraft, purchasing these planes will lower its costs.

Heading into the show, Toulouse, France-based Airbus was closing in on orders totalling $29bn, based on list prices, from two Asian carriers, Malaysia's AirAsia, and StarLux Airlines.

Airbus also confirmed that China's Sichuan Airlines has ordered 10 A350-900s for its long haul global routes.

In separate interviews, they said nothing good will come from the tension that's been gathering momentum over recent weeks. One big thing: A trade war.

"Today I can announce that the government will join with BAE Systems, Leonardo, MBDA and Rolls Royce to fund the next phase of the Future Combat Air System Technology Initiative through a ground-breaking partnership known as Team Tempest", she said.

The A220 programme got an important vote of confidence from Air Lease Corp founder Steven Udvar-Hazy, who told Bloomberg that the A220 is "a more attractive prospect" under Airbus.

Jet Airways confirmed an order for an additional 75 737 MAX 8s. "This has changed the whole landscape in terms of its credibility", he said.

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