EgyptAir expands fleet with 9 new Boeing 737s

“The Asia Pacific is going to account for at least a third of all aircraft demand over the next 20 years” based on planemakers’ forecasts, said Simon Elsegood, an analyst at CAPA Centre for Aviation in Sydney.

Both Boeing and main rivals Airbus are jostling for business at the Farnborough Airshow in England this week in an attempt to win contracts, and both have played down the impacts of Brexit on the avaiation industry.

AirAsia made the biggest splash of the day with an order for 100 Airbus A321neo airliners, worth $12.57 billion at list prices.

The A-350-1000s are scheduled for delivery starting in 2019 and four aircraft on long-term leases will start in 2020. Los Angeles-based Air Lease separately announced orders for three A350-900s and an A321.

Of these, the first disclosed interest for 25 737 Max-8s, Ruili Airlines finalized an order of six 787-9 Dreamliners, and Xiamen Airlines signed an MoU for 30 737 Max-200 variants.

An unidentified customer in China committed to buying 30 Boeing 737 airplanes, with a value of $3 billion for the order.

Britain’s shock decision in a referendum last month to leave the European Union is providing the latest jolt to the global economy.

However, the biennial event was shut early on Monday due to heavy downpours during the early afternoon. The fantastic Airbus A350 is built in the United Kingdom, with Rolls-Royce engines and suppliers across the country.

Ahead of Farnborough, some airlines had posted profit warnings linked to expected fallout from the June 23 referendum. Scroll down to see Tuesday’s headlines from the Farnborough Airshow.

Finally, on Monday, Boeing revealed the identity of 737-800NG customer Standard Chartered Bank, which has placed a firm order for 10 of the narrowbodies worth $960 million at list prices.

Airbus and Boeing have enjoyed years of strong sales, with rising air travel and demand for new fuel-efficient planes raising the industry’s order backlog to a record 13,500 planes at the end of 2015, or near 10 years of production at current rates.

“The one statistic I would point to, in terms of aviation, is the passenger growth long term”.

Virgin Atlantic CEO Craig Kreeger, commented: “The size of this order demonstrates our absolute focus on investing in the future for our customers and our people, and confirms the strength of our business”.

AirAsia is already the top Airbus customer by aircraft numbers.

Boeing forecast an average 4.8 percent annual growth in passenger traffic over the 20 years, with 9,100 new wide body planes to come on stream during that period.

John Leahy, Airbus’s chief salesman, said at the show that a growing middle class in China, India and other emerging economies such as Indonesia will become increasingly central in driving demand for jetliners.