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Thursday, July 12, 2012

Airbus Posts $16.9 Billion in New Commitments at Farnborough

Airbus has booked $16.9 billion in new aicraft commitments during the first four days of the 2012 Farnborough Air Show.

The European manufacturer has seen increased buyer interest in its A320 family, tallying 86 commitments. On Thursday, Russia-based carrier UTair placed a firm order for 20 A321s and Ireland-based leasing company Avolon signed a memorandum of understanding for 15 A320neos.

Airbus began the production phase of the A320neo this week, and including the Avolon order on Thursday, they have a total of 29 new commitments for their A320neos at Farnborough so far.

“Today’s commitment with Airbus for 15 A320neo aircraft reflects our ambition to play a leading role in financing the next generation of aircraft for the world’s airlines. We are seeing great interest in the superior performance metrics and fuel economy that the neo promises. We are also delighted to strengthen our relationship with Airbus,” said John Higgins, president and CEO at Avolon.

Among the other big buyers of Airbus aircraft this week include Cathay Pacific Airways, CIT Group, and China Aircraft Leasing Company.

“The quality of orders at Farnborough has been high at the show, with significant endorsement from leading customers of our strategy to continuously innovate and improve our products,” said Airbus CEO Fabrice Bregier. 

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