The 2016 Farnborough Air Show kicked off in grand fashion on Monday with Airbus and Boeing announcing deals valued at nearly $13 billion.
In addition to the completed deals, several mega orders worth as much as $20 billion are rumored to be near completion.
Although there hasn't been a great amount of buzz coming out of North America and Europe, China's growing airlines arrived at the English air show with checkbooks in hand.
Chinese low-cost carrier Xiamen Airlines signed a memorandum of understanding for 30 Boeing 737 MAX 200 airliners.
The agreement isn't yet a firm order; however, should Xiamen convert the MOU into one, the deal carries a list price of $3.39 billion.
Xiamen, which currently operates more than 140 Boeing jets, plans to expand its fleet to more than 200 planes by the end of the decade, and Boeing hopes these 737 MAX 200s will play a role in that expansion.
The Xiamen deal was followed by an order from Donghai Airlines. Although the airline has traditionally been a cargo carrier since it launched in 2006, Donghai is set to expand its passenger operations. The upstart Chinese airline announced that it would buy 25 Boeing 737 MAX 8 and five 787-9 Dreamliners worth in excess of $4 billion at list prices.
The Xiamen deal was followed by an order from Donghai Airlines. Although the airline has traditionally been a cargo carrier since it launched in 2006, Donghai is set to expand its passenger operations. The upstart Chinese airline announced that it would buy 25 Boeing 737 MAX 8 and five 787-9 Dreamliners worth in excess of $4 billion at list prices.
Britain's Virgin Atlantic is the only European airline to announce a deal so far at Farnborough. The crown jewel in Richard Branson's transportation empire announced on Monday that it would acquire 12 Airbus A350-1000 airliners.
The state-of-the-art Airbus jets will be used to replace Virgin's aging fleet of Boeing 747-400 jumbo jets. Eight of the aircraft will be purchased directly from Airbus, while the final four will be acquired on long-term leases. The total value of the deal is expected to reach $4.3 billion at list prices.
Read more: Airbus and Boeing close to $33 billion in orders at Farnborough Air Show - Business Insider
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| Virgin Atlantic Airbus A350-1000 |
In addition to the completed deals, several mega orders worth as much as $20 billion are rumored to be near completion.
Although there hasn't been a great amount of buzz coming out of North America and Europe, China's growing airlines arrived at the English air show with checkbooks in hand.
Chinese low-cost carrier Xiamen Airlines signed a memorandum of understanding for 30 Boeing 737 MAX 200 airliners.
The agreement isn't yet a firm order; however, should Xiamen convert the MOU into one, the deal carries a list price of $3.39 billion.
Xiamen, which currently operates more than 140 Boeing jets, plans to expand its fleet to more than 200 planes by the end of the decade, and Boeing hopes these 737 MAX 200s will play a role in that expansion.
The Xiamen deal was followed by an order from Donghai Airlines. Although the airline has traditionally been a cargo carrier since it launched in 2006, Donghai is set to expand its passenger operations. The upstart Chinese airline announced that it would buy 25 Boeing 737 MAX 8 and five 787-9 Dreamliners worth in excess of $4 billion at list prices.
The Xiamen deal was followed by an order from Donghai Airlines. Although the airline has traditionally been a cargo carrier since it launched in 2006, Donghai is set to expand its passenger operations. The upstart Chinese airline announced that it would buy 25 Boeing 737 MAX 8 and five 787-9 Dreamliners worth in excess of $4 billion at list prices.
Britain's Virgin Atlantic is the only European airline to announce a deal so far at Farnborough. The crown jewel in Richard Branson's transportation empire announced on Monday that it would acquire 12 Airbus A350-1000 airliners.
The state-of-the-art Airbus jets will be used to replace Virgin's aging fleet of Boeing 747-400 jumbo jets. Eight of the aircraft will be purchased directly from Airbus, while the final four will be acquired on long-term leases. The total value of the deal is expected to reach $4.3 billion at list prices.
Read more: Airbus and Boeing close to $33 billion in orders at Farnborough Air Show - Business Insider
