Paris Air Show generate orders worth USD 50 Billion

Paris Air Show generate orders worth USD 50 Billion

Airbus surprised the market by announcing last minute orders worth USD 3.6 billion at the Paris Air Show. This gives the European aircraft manufacturer an advantage over their prime competitor Boeing in terms of orders gathered for the next couple of years. Both the companies together generated around USD 50 Billion worth of business.

Airbus said it outsold Boeing by a margin of more than two to one as they alone took away orders worth USD 33.5 billion for around 320 planes. Boeing however has the advantage for a better demand for their mid-size aircraft.

The airline industry has been going through a slump since 2001 but now looks to be getting better with orders from the emerging markets like India and China. The latest orders for Airbus included an order for 40 aircraft in the single-aisle A320 family from an unidentified airline company and 18 A319 jets worth $55 million each to German airline Germanwings.