Aviation revival with orders worth $28bn at show
Plane-makers notched up orders worth more than $28bn (€22bn) at the Farnborough International Airshow by the close of the third day, underscoring a revival in commercial aviation, even as budget cuts keep the defence sector in the doldrums.
New deals announced yesterday included orders for Airbus jets from Berlin-based airline Germania and Indonesian national carrier Garuda, while Middle Eastern airline Qatar agreed a deal with Boeing to take earlier delivery of the US company's fuel-efficient 787 jetliner.
"Air-travel demand is continuing to rise in the Middle East and it is becoming clear that international demand is returning as the global economy shows signs of recovery," Qatar Airways CEO Akbar Al Baker said at Farnborough.
Orders at the show are well off the record-breaking $88.7bn announced in 2008.
The International Air Transport Association recently forecast that the global industry would make a small profit of $2.5bn this year, after a huge loss of $9.4bn in 2009 -- a quick improvement from its predictions late last year of more losses this year.