Paris Air Show: Singapore Airlines order helps Airbus close show on a high note

22 June 2007

On the last day of the show, the Toulouse-based European planemaker wrapped up the proceedings with a $3.7 billion contract from Singapore Airlines Ltd. for 20 A350 XWB long-range aircraft, its competitor for Boeing's 787 Dreamliner.

Airbus had lost a five-year lead in orders over Chicago-based Boeing in 2006 as manufacturing setbacks over the A380 and redesign problems with the A350 had left it with no answer to Boeing's runaway success - the 787 Dreamliner.

There was also some immediate good news for parent company EADS, as shares for the company rose as much as 48 cents, or 2 per cent, to 24.24 euros in Paris. The stock has fallen 7.5 per cent this year, compared with an 8.6 per cent gain for Boeing.

The European planemaker also overtook Boeing in terms of the number of planes ordered for the year. Tallying up after the announcements at the show, Airbus now has at least 626 orders on its books. Boeing, which announced 66 new orders at the show, has taken its year-to-date total to 510 as of June 20.

Boeing put up a brave face, saying through a statement that their longstanding policy did not allow them to "store up order announcements for an air show.'' It further said, ``We used the show to confirm that the 787 Dreamliner remains on schedule for first delivery in May 2008.''

Airbus this week also won non-binding commitments, or options, for an additional 303 planes worth an estimated $37 billion at list prices.