Optimism Takes Off at Air Show
The Farnborough Airshow gave aerospace industry observers renewed confidence that the light at the end of the tunnel was brightening much faster than expected. Orders for commercial jetliners totaled more than three
times the number announced in Paris a year ago, leading to speculation that the global slump in orders was over and that commercial aerospace was poised for growth. Order book success was shared by the majors, as Boeing emerged with 157 firm orders, while Airbus secured 133 new orders.
Smaller manufacturers had a successful air show as well. Embraer announced 37 orders for its regional jets, and Bombardier booked 20 firm orders for its business jets and turboprops at the Farnborough event.
Global orders dropped suddenly and sharply in the second quarter of 2008 and struggled to recover over the next several quarters. Yet in the first quarter of this year, orders for large commercial aircraft moved surprisingly higher. Boeing secured 83 net orders, up from a loss of four a year earlier, while Airbus recorded 60 net new orders, up from eight in the first quarter of 2009. Though still off from the 2008 highs, these solid improvements clearly indicate a change in momentum.
AIA Source: william.chadwick[at]aia-aerospace.org
