The International Paris Air Show: What Deals Have Been Made?
The International Paris Air Show, the largest and longest-standing aerospace trade show in the world, is under way for the 51st time. The action will take place between Monday and Saturday of this week.
Here's what's rumored to be happening.
Boeing Co (NYSE: BA) and Airbus Group SE (OTC: EADSF) are reportedly positioned to win at least 220 orders for competing narrow-body jets at the show, according to Bloomberg. The value of these orders are estimated to be near $23 billion.
The companies are expected to reveal their orders some time on Monday, but people familiar with the matter have said that the largest could come from aircraft leasing company AerCap Holdings N.V. (NYSE: AER), which is rumored to be buying 100 Max airplanes.
Sources are also saying that General Electric Company (NYSE: GE)’s leasing unit is close to acquiring 60 A320neos from Airbus.
“Airlines probably want to just take the cash at the moment and give it back to shareholders for a change,” Mike Hawkins, managing director of Aviation Asset Management, told the outlet.
All About Asia
Asia is also in the spotlight. Bloomberg reported that Korean Air Lines plans to purchase 30 planes from Boeing and 30 planes from Airbus, while Saudi Arabian Airlines is working on a deal with the latter.
Pakistani newspaper The Express Tribune said Pakistan has successfully secured its “first ever export order for its JF-17 Thunder fighter on Monday.” While the buyer was not disclosed yet, the outlet said it's possible an Asian country has purchased the planes.
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