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Boeing and Airbus take off with a flurry of deals at Paris Air Show

By Abigail Townsend

Date: Tuesday 18 Jun 2019

Boeing and Airbus take off with a flurry of deals at Paris Air Show

(Sharecast News) - Boeing and Airbus have unveiled a flurry of deals, including Korean Air agreeing buying a fleet of Dreamliners and the European aerospace group selling 36 planes to Philippines carrier Cebu Air.
Announcing the deals on the second day of the Paris Air Show, the industry's biggest annual gathering, Boeing said Korean Air had provisionally committed to buying 20 787-9 Dreamliners and to lease another 10. The deal is worth $6.3bn at list prices.

The US group also said it had sold five Dreamliners to Air Lease Corporation, worth $1.5bn at list prices.

Steven Udvar-Hzy, executive chairman of the Los Angeles-base leasing business, said: "These five Boeing 787-9 aircraft are required by our airline customers to satisfy strong ALC lease placements of the 787." Boeing, the world's largest aerospace company, has now sold more 1,400 Dreamliners since the jet was launched over a decade ago.

Cebu Air, meanwhile, is buying 36 planes from Airbus in a $6bn deal, ten of which are Airbus's new long-range aircraft A321XLR. Airbus unveiled the single-aisle A321XLR at the start of the show.

Airbus also announced it was selling 30 A320neo jets to Saudi Arabian Airlines, worth $3.3bn at list prices.

The deals will be a fillip for both companies. The airline industry is battling overcapacity, a slowing global economy and geopolitical tensions, including the US-China trade war. Boeing, meanwhile, has endured a torrid year after two fatal crashes grounded its best-selling MAX 737 aircraft in March.

Shares in both Airbus and Boeing were trading around 1% higher by 1430 BST.

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