Boeing wins Farnborough Airshow
The airplane manufacturer walks away with a $14.7B order from UAL.
Aerospace company Boeing (BA) is being hailed the overall winner at the Farnborough Airshow in the UK comes to an end.
According to Reuters, neither Boeing nor Airbus received the amount of orders they would have wanted, but both companies are claiming their own victories.
Boeing picked up 50% more orders than Airbus, including a huge $14.7 billion order from United Continental (UAL). Airbus won a new order from Hong Kong's Cathay Pacific for the largest version of the A350.
At the time, Boeing Commercial Airplanes President and CEO Ray Conner said in press release that, "The GECAS leadership team understands the importance of having advanced, fuel-efficient airplanes to meet their customers' needs. This commitment confirms the value of the 737 MAX in today's competitive marketplace."
It was important for both Boeing and Airbus that the show go well, as European banks are seriously reducing lending and trade rules are curtailing the use of government-backed loans.
"European banks will step back a little in terms of financing this year," Randy Tinseth, marketing vice president for Boeing's commercial airplanes unit, said in a briefing. "The capital markets will play a more and more important role in financing new deliveries."
According to Reuters, Boeing took orders for 285 MAX jets, and the company said that it now has 649 firm orders "compared with 1,454 for the A320neo which gained a year's start as the two plane makers opted in succession to put fuel-saving engines on their most-sold jets."
On Friday morning Boeing traded at about $71.70, up roughly 0.3%.
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The solid report comes a month after the retailer closed all of its Canadian operations.
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