FARNBOROUGH, Eng Land — Airbus and Boeing announced 189 orders on the first day of the Farnborough Air Show, more than double the total in all of last year’s Paris event, as leasing companies returned to the market Monday after the recession.
Airbus won contracts for 122 aircraft worth $11.6 billion at list prices, while Boeing revealed 67 orders valued at $7.5 billion. The Chicago-based manufacturer secured commitments for nine planes at the Paris show, which alternates with Farnborough each year, compared with 69 for its European rival.
Leasing companies led by General Electric’s GECAS unit accounted for 151 of Monday’s contracts, their comeback eclipsing business done by commercial airlines, among which Dubai-based Emirates placed the biggest order for 12 Boeing 777-300ERs worth $3.3 billion. At the Paris show, manufacturers focused on holding on to orders as demand for new planes waned during the slump.
“Much was written about the leasing companies’ demise, but not only have they survived, their portfolios have performed remarkably well,” said Mike Cave, president of Boeing’s finance unit.
