Economy

Boeing scores opening win with Farnborough orders

Boeing scores opening win with Farnborough orders”

The Airbus deals announced at Farnborough, southwest of London, would add up to more than $17 billion at catalogue price for the planes if all orders are confirmed and prior to large discounts traditionally handed to purchasers.

But business was brisk on the first day of the July 16-22 air show, though analysts will be watching closely to see how numerous deals are new, and how many involve adjusting earlier business or switching models - something not always easy to spot at first.

"While Trump has said trade wars are 'good and easy to win, ' aviation experts say American companies like Chicago-based Boeing will take the first hit because most of USA aerospace production goes to foreign buyers".

Orders rain on the first day of Farnborough with both Airbus and Boeing all smiles. -Chinese trade tensions on its business, Chief Executive Dennis Muilenburg said on Sunday.

Washington recently imposed 25-percent tariffs on $34 billion of Chinese imports, and Beijing responded with tariffs on the same amount of USA exports to China.

Nearly 80 percent of the 713 commercial aircraft orders for which Boeing identified a buyer past year came from foreign companies, according to data on Boeing's website.

A startup airline, Moxie Airlines, also may place an order for 60 of the A220-300 with Air Lease Corp.

Even so, Boeing lowered its wide-body delivery forecast by 140 aircraft to 8,070, saying higher deliveries over the a year ago and longer-range single-aisle planes ate into the rolling forecast.

On the civilian side, the air show is expected to confirm demand for narrowbody jets from airlines such as Mexico's VivaAerobus, which is shopping for some 40 Airbuses, and lessors like Goshawk, which ordered 20 A320neo jets on Monday but is also expected to be interested in 737 MAX. What they will encounter is a global industry worth some $838 billion in trade and investment that employs millions and supports the defense of the US and its allies. The company said it would meet with customers, suppliers and potential customers from around the world.

Dawson said the cost of steel and aluminum, which were hit by the first round of USA tariffs, has risen by 10 percent to 15 percent in the last few months, which translates into higher manufacturing costs.

"There's already been an impact with raw materials, with the costs of production and lead times", she said.

It's boss, Dennis Muilenberg, said the company's plans would not be changed by the UK's decision to leave the European Union, but added it would not welcome disruption to the movement of goods. "But we will do so in a way that is good for business and good for our future prosperity", she said.

"We think we've always had a good, compelling story for the Super Hornet internationally and Block III just enhances that", said Dan Gillian, vice-president of F/A-18 and EA-18G programmes.

Boeing's overall forecast tally is a bigger number partly because it counts aircraft with 90 seats or more, whereas Airbus starts at 100 seats. "I'm personally not anxious about it right now".

Every other July, the town of Farnborough, England holds court and the aviation world convenes for the air show that shares its name.



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