Farnborough air show sees deals worth $47 bn

July 24th, 2010 - 9:04 pm ICT by IANS  

Moscow, July 24 (IANS/RIA Novosti) Deals signed during the Farnborough International Air Show near London account for a total of $47 billion, the organisers said Saturday.
“To see over $47 billion worth of business done and the quality of the business transactions at the show is a testament to the endurance of our sectors, their positive contribution to UK and world trade as well as the significance of the show itself,” said Ian Godden, chairman of Britain’s AeroSpace, Defence and Security trade organisation.

The 2008 Farnborough air show held before the start of the global economic recession saw a total of $89 billion worth of deals signed.

Experts say Russian companies had struck deals worth about $10 billion during this year’s show.

Among the largest deals is the agreement between Russia’s Irkut aircraft maker and Malaysian transportation holding company CRECOM Burj Resources, which stipulates the supply of 50 new MS-21 passenger airliners to Malaysia starting 2016. This will be the largest post-Soviet sale of Russia-made new generation planes abroad.

The MS-21 plane, which is still under development, is to replace the aging Tu-154, which currently accounts for the lion’s share of passenger traffic in Russia and the CIS. It is also expected to compete with the Airbus A-320 and Boeing 737.

Irkut has agreed a total of 140 deliveries during the air show.

Russia’s Sukhoi Civil Aircraft has clinched deals on as many as 161 Sukhoi Superjet 100 planes. The Superjet 100 is a family of medium-haul passenger aircraft developed by Sukhoi in cooperation with US and European aviation corporations, including Boeing, Snecma, Thales, Messier Dowty, Liebherr Aerospace and Honeywell.

The Farnborough air show is under way near London since July 19. The first five days of the show were dedicated to concluding deals. The exhibition will be open to the public over the weekend.

About 1,350 companies and organizations from more than 50 countries, including some 60 Russian firms, have taken part in the air show.

More than 120,000 people have already attended the show, with 150,000 others were expected to attend on Saturday and Sunday.

–IANS/RIA Novosti

snb/dg

Related Stories

Tags: , , , , , , , , , , , , , , , , , , ,

Posted in Business |

Subscribe