Dubai Air Show Sales Wrap
22 November 2019 - 11:00PM
Dow Jones News
By Olivia Bugault
Boeing Co. (BA) and Airbus SE (AIR.FR) booked over 300
commercial plane orders and commitments at the Dubai Air Show, as
the aerospace industry faces a slowdown in traffic growth,
production delays, falling airline profitability and the aftershock
of the Boeing MAX jetliner grounding.
The five-day event wrapped up with Airbus outclassing its U.S.
rival both in terms of orders and commitments secured, and in total
deal value. Here is a summary of how the plane makers fared at the
biennial aerospace expo.
BOEING VS AIRBUS: Boeing ended a lull in MAX orders as two
airlines--Kazakhstan's Air Astana and Turkey's SunExpress--ordered
its still-grounded jetliner. The plane maker is still awaiting
regulatory approval to return the aircraft to service and has
struggled to strike new deals since its grounding in March
following two fatal crashes.
During the show, Emirates swapped a previous order of 30 Boeing
777X jets for 30 of its 787 Dreamliner aircraft, a setback for
Boeing as the original deal would have meant a higher gain.
Airbus showed its strength as it reeled in a bunch of large
orders including a deal with Air Arabia for 120 A320neos valued at
$14 billion at Airbus's 2018 list price and before customary
discounts. Although Airbus beat Boeing in terms of orders at the
show, the European plane maker still faces production issues and
cut its delivery guidance for the year.
Following is a table of the top commercial buyers for each plane
maker, based on preliminary data compiled by Dow Jones. Prices are
given before industry-standard discounts.
-------------------------------------------------------------------
BUYER ORDER PLANE LIST PRICE VALUE
GECAS 32 A330neo $6 bln
A321XLR
Air Arabia 120 A320neo $14 bln
A321neo
A321XLR
Emirates Airlines 50 A350-900 $16 bln
EasyJet 12 A320neo $1.3 bln
AIRBUS TOTAL 232 $40 bln
-------------------------------------------------------------------
BUYER ORDER PLANE LIST PRICE VALUE
Emirates Airline 30 787-9 $8.8 bln
Air Astana 30 737 MAX $3.6 bln
SunExpress 10 737 MAX $1.2 bln
BOEING TOTAL 75 $14.5 bln
Source: Boeing, Airbus
*Total estimated values refer to all orders & commitments received, excluding purchase rights, leases and options.
ANALYSTS HAD THIS TO SAY:
On Airbus's A350..."Emirates' order of 50 A350s at Dubai Airshow
confirms good A350 XWB momentum." -UBS
On number of orders..."With the Dubai Air Show scheduled to run
from November 17-21st, order announcements have been relatively
healthy, but BA lags Airbus," -Jefferies
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
November 22, 2019 06:45 ET (11:45 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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