by Christopher Freeburn | June 17, 2013 10:13 am
Despite a siege of rain, this year’s Paris Air Show is proving to be a battleground in the ongoing global contest between Boeing (BA) and Airbus.
Major carriers are looking to purchase larger jets this year, a sign of an improving global economy. That is translating into bigger plane orders for the world’s two dominant manufacturers, the Associated Press notes.
Qatar Airways is buying a number of Boeing 777 jets, while General Electric‘s (GE) leasing division has ordered 10 787-10X Dreamliners, a deal worth as much as $2.4 billion before any discounts.
Not to be outdone, Airbus says it has a memorandum of understanding from Doric Leasing to acquire 20 A380 jumbo-jets. The A380 can accommodate up to 800 passengers, but has yet to attract significant interest from carriers. Additionally, German airline Lufthansa affirmed an earlier deal to 100 A320 jets.
Airbus is also using the Paris Air Show to show off its A350 jet, which is meant to compete with Boeing’s 777 and 787 planes.
Shares of Boeing rose more than 1% in Monday morning trading.
Source URL: http://investorplace.com/2013/06/boeing-airbus-rack-up-major-orders-at-paris-air-show/
Short URL: http://invstplc.com/1fwaJty
Copyright ©2014 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.