Boeing’s 737 MAX 10 a big hit at Paris Air Show

Boeing outpaced its rival Airbus in terms of new orders at this year’s Paris Air Show thanks to its new 737 MAX 10 airliner, taking in a total of 571 orders for almost United States dollars 75 billion.

The U.S. aerospace giant said it received “incremental orders and commitments” during the week for a total of 571 airplanes, valued at $74.8 billion at list prices.

The new jets come as the worldwide aviation industry is showing signs of cooling, with orders for new planes slowing down.

Moreover, Blue Air will rent 12 other Boeing 737 airplanes from Air Lease Corporation, with whom it has begun a collaboration this year.

The 737 MAX is the fastest-selling airplane in Boeing history. According to John Leahy, the chief salesman at Airbus, the Max 10 is a bigger competitor to the Max 9 and this was probably why there were a lot of conversions.

The European planemaker has seen arch-rival Boeing grab most of the headlines so far, but could turn to one of its top buyers as a potential wild card for the show, industry sources said.

Additional MAX 10 orders announced in Paris Tuesday included 20 for USA aircraft lessor Aviation Capital Group, 15 for China Aircraft Leasing Group (CALC), 10 for Irish airline Ryanair, and 8 for Chinese airline Okay Airways. Boeing is relying on the Max 10 to stem customer defections to the A321neo, which has racked up a considerable order lead since its introduction three years ago.

In addition to commercial jet sales, Boeing also has announced several services deals.

In a statement yesterday, Malaysia Airlines managing director and chief executive officer Peter Bellew said the airline has made a decision to convert some of its 737 MAX 8s to 737 MAX 10s, which offer greater flight efficiency and additional capacity.

But analysts expect demand at the June 19-25 event to fall short of recent years, and some aviation companies themselves have cut back staff and hospitality at the show.

In a late flurry this morning, Airbus signed deals for nearly 100 aircraft, with AirAsia and privately-owned Iranian carriers Zagros Airlines and Iran Airtour. However, executives at Airbus say that the Max 10 is a bigger threat to other models from Boeing than to the Airbus Neo. He also questioned whether the introduction of a fifth member of the MAX family would allow airlines to preserve the value of their assets for possible resale – a key barometer of aviation finance that influences both old and new prices.