BARCELONA--Boeing Co. and Airbus SE booked more than 500 commercial plane orders and commitments at the Paris Air Show, padding their order books amid industry headwinds and global trade tensions, falling airline profitability and the grounding of Boeing's MAX jetliner.

The event wrapped up with Airbus outclassing its U.S. rival both in terms of orders and commitments secured and total deal value. Here's a summary of how the plane makers fared at the world's largest aerospace expo.

BOEING VS AIRBUS: Boeing arrived at Le Bourget battling one of the biggest crises in its history, mired in the fallout of two fatal 737 MAX crashes that led to a global grounding of the plane in March. Already low expectations for the company took a further hit when Airbus rolled out its longest-range single-aisle plane yet, but Boeing surprised skeptics with a blockbuster order from IAG for 200 of the 737 MAX on day two of the show. That ended the MAX order lull endured by the U.S. plane maker since the Ethiopia crash in March.

Airbus showed its strength with a raft of orders. The European plane maker's new A321XLR racked up more than 120 orders and commitments in total. That's a blow to Boeing, whose new midsize plane will likely only be ready years after the A321XLR's first flight. After five days of negotiations, Airbus amassed more than $43 billion in new deals at list price, while Boeing's new orders and commitments reached over $32 billion.

Following is a table of the top commercial buyers for each plane maker, based on preliminary data compiled by Dow Jones.

  -------------------------------------------------------------------- 
  BUYER                        ORDER   PLANE          LIST PRICE VALUE 
 
  Turkmenistan Airlines        1       777-200LR      $346.9 Mln 
  IAG                          200     737MAX         $24.0 Bln 
  Korean Air                   20      787            $6.3 Bln 
  Air Lease                    5       787-9          $1.5 Bln 
 
  BOEING TOTAL                 226                    Over $32 Bln 
   -------------------------------------------------------------------- 
  BUYER                        ORDER    PLANE         LIST PRICE VALUE 
 
  Air Lease Corp.              100      A220-300      $11.4 Bln 
                                        A321XLR 
                                        A321neo 
  American Airlines            20       A321XLR       $2.8 Bln 
  Cebu Pacific                 31       A330neo       $6.1 Bln 
                                        A321XLR 
                                        A330neo 
  IndiGo Partners              32       A321XLR        $4.5 Bln 
  Saudi Arabian Airlines       30       A320neo        $3.3 Bln- $3.8 Bln 
                                        A321XLR 
 
  AIRBUS TOTAL                 327                     Over $43 Bln 
  --------------------------------------------------------------------- 
 
 
  *Total estimated values refer to all orders & commitments received, excluding purchase rights, leases, conversions 
  and options. 
 

ANALYSTS HAD THIS TO SAY:

On Airbus's outlook..."Higher narrowbody production rates, better margins on A350 and better cash dynamics on A220 and A400 underpin our expectation of multi-year earnings and cash-flow improvement at Airbus." -GS

On Airbus's new plane..."The A321XLR launch provides [Airbus] an economic advantage with no extra cost by adding additional range through higher fuel capacity. Extra range opens new single-aisle routes such as New York to Rome or London to Miami. Combined, the middle market could command 5,500 new aircraft over the next 20 years." -Jefferies

On the 737 MAX re-certification… "Some suppliers say we're weeks away from certification and others say it could be as late as December...Ultimately, we don't think anyone really knows. This appears to have moved beyond the realm of a simple technology fix and into the realm of global certification politics." -BAML

On IAG's MAX order… "Is this a case of opportunistic buying? The list price of the Boeing aircraft alone is $23bn-$26bn, and while IAG has negotiated an [undisclosed] substantial discount, this still represents a vote of confidence in the aircraft. Was a larger discount than normal offered...and IAG took advantage of it? We see IAG as sober, rational capital allocators rather than empire builders and expect them to have dispassionately assessed any incremental capex." -Bernstein

On new Boeing narrowbody… "To some extent, Boeing seems to be using the show as an opportunity to explain what has gone wrong with 737 MAX program. At this point in the commercial aerospace cycle, we think the debate on Boeing should be around the launch of the NMA [new narrowbody] or the supply chain's ability to support the next ramp-up in 737 MAX production, not when the FAA and other international authorities will re-certify the plane." -BAML

On the 787…"Airbus...throughout the show was vocal about aggressive pricing in wide bodies, especially the lower end. It also said that the market is oversupplied [or at least heading that way]. These comments likely relate to the 787, which is producing at 14/month--a record for wide bodies--and winning deals. A330neo got some traction at this show, and 350 also won its share, but combined, they deliver around150 versus 787/777 over 200." -Citi

Write to Olivia Bugault at olivia.bugault@dowjones.com and Fabiana Negrin Ochoa at fabiana.negrinochoa@dowjones.com

(END) Dow Jones Newswires

June 24, 2019 05:39 ET (09:39 GMT)