Historic Deals At Dubai Airshow Sees Boeing, Airbus Making Bumper Gains In New Orders

In what was described as “the largest deal in EgyptAir history” by the chairman of EgyptAir, a big fat deal for purchasing 21 Boeing and Airbus planes from U.S. AirCap corporation was signed and announced by both the parties

The largest ever single order in the history of Airbus was also signed recently when purchase of 430 additional Airbus A320neo family aircraft was announced. The planes were to be bought by Pan-American Indigo Partners’ four portfolio airlines and a Memorandum of Understanding (MoU) for the purchase from the European plane maker was also signed between the parties.

The Dubai Airshow was the place and setting where Bill Franke, Managing Partner of Indigo Partners, and John Leahy, Airbus Chief Operating Officer-Customers signed the historic deal which is valued at a total of 49.5 billion U.S. dollars at list prices and is comprised of 273 A320neos and 157 A321neos according to the purchase commitment.

Dubai Airshow organizer F&E Aerospace told the media in an e-mailed statement that the day that both Boeing and Airbus announced deals in their favor, it marked the biggest ever single day deal making in the history of aviation business.

In what is being called the Airbus’ largest ever single announcement, the announcement of the purchase of aircrafts form the company worth 49.5 billion U.S. dollars that was truck with the U.S. private equity firm Indigo Partners for the purchase of 430 aircraft in the A320neo family of Airbus, had shaken up the aviation industry.

At the same event, an agreement for the purchase of 225 aircraft in 737 MAX family of Boeing by Dubai’s government-controlled low-budget carrier flydubai, worth 27 billion dollars was also signed and announcement of the same was made. Boeing’s 737 MAX is the largest-ever single-aisle jet order in terms of the number of airplanes ordered and the total value of the order that was ever obtained from a Middle East carrier.

The existing order for 427 A320 family aircraft has been doubled by Indigo Partners, a U.S.-based private equity fund following an agreement with Airbus and placing of the order.

There are four ultra low cost airlines that are owned and operated by the fund. The airlines would be divided the new panes in the following way: Wizz Air (Hungary) 72 A320neo, 74 A321neo; Frontier Airlines (USA) 100 A320neo, 34 A321neo; JetSMART (Chile) 56 A320neo, 14 A321neo, and Volaris (Mexico) 46 A320neo, 34 A321neo.

Slated to be operational in 2019, six Boeing 787-9 Dreamliner aircraft was also provided to EgyptAir through a leasing deal that was headed by AerCap.

AerCap has 116 aircrafts on order and owned and is the largest lessor of the Airbus A320neo in the and is also the largest customer of the Boeing 787.

(Adapted from News.xinhuanet.com)


Categories: Economy & Finance, Sustainability, Uncategorized

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