Boeing Flies Under The Radar In Paris Airshow As Airbus Dominates New Orders

Airbus bagged several billion-dollar contracts for its jets at the Paris Airshow on Monday, as Boeing took a step back from the aviation industry’s flagship event in the wake of the fatal Air India crash that involved one of its jets.

According to a Bloomberg report, the orders from Saudi Arabia and Poland could be worth as much as $17 billion.

Saudi aircraft lessor AviLease, which the sovereign wealth fund backs, has agreed to purchase 30 Airbus A321 narrow-body aircraft, with options to acquire an additional 25. The company also agreed to buy 10 A350 freighters, along with 12 options.

It also received orders for 50 of its A350-1000 widebody jets from Riyadh Air.

Last month, AviLease had agreed to buy 30 Boeing 737 Max jets during President Donald Trump’s visit to Saudi Arabia.

Boeing had scaled back its participation in the event by canceling public-facing events and visits from top officials, including CEO Kelly Ortberg and top Commercial Aviation executive Stephanie Pope.

Boeing is assisting Indian officials in investigations surrounding the crash, which claimed the lives of nearly all of the 242 passengers on board as it struck a medical college in a densely populated area, moments after takeoff.

According to media reports, Boeing is likely to delay new contract announcements, a common feature of the Air Show, as a mark of respect for the victims.  

“We have to be better,” Airbus CEO Guillaume Faury Told in a Bloomberg TV interview on Monday. He said he wanted to ensure Airbus sells the aircraft based on the “merits of the planes.”

Poland’s LOT Airlines said it would buy 40 A220 single-aisle aircraft, with an option to extend the contract up to 84 units.

Boeing stock has fallen 5.7% since the crash on Thursday.

Also See: Air India Disaster: Insurers Could Reportedly Face Historic Crash Payout Of Up To $475M

For updates and corrections, email newsroom[at]stocktwits[dot]com.

Share

·

Add us on